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Novartis AG

Securities Class Action

  • Date:
  • 7/15/2022
  • Company Name:
  • Novartis AG
  • Stock Symbol:
  • NVS
  • Status:
  • Investigating

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Novartis AG (“Novartis” or the “Company”) (NYSE: NVS) on behalf of Novartis stockholders. Our investigation concerns whether Novartis has violated the federal securities laws and/or engaged in other unlawful business practices.

On May 5, 2022, Novartis “announced a temporary, voluntary suspension of production at its radioligand therapy production sites in Ivrea, Italy and Millburn, New Jersey.” The production halt was to “address potential quality issues identified in its manufacturing process.”

On this news, Novartis’ stock fell $2.06, or 2.3%, to close at $86.21 on May 5, 2022, thereby injuring investors.

Then, on May 31, 2022 STAT News published an article entitled “Deocuments show problems at Novartis facility where cancer drug production was halted.” The article reported that the U.S. Food and Drug Administration had cited deficiencies at the Company’s New Jersey facility following an inspection in late 2021, including a “concern that Novartis failed to notify customers about batches of Lutathera… that were distributed despite failing to meet quality specifications.”

On this news, Novartis’ stock fell sharply during intraday trading on May 31, 2022, thereby injuring investors further.

If you purchased or otherwise acquired Novartis shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
 
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Novartis AG. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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