Thursday, 22 April 2021

Novo Nordisk sued in Denmark for alleged market manipulation

Novo Flag

COPENHAGEN: Danish insulin-maker Novo Nordisk has been sued by investors demanding 11.8 billion Danish crowns ($1.8 billion) in compensation for the company’s alleged market manipulation, Danish daily Borsen reported.

“Novo has provided and disseminated inaccurate, incomplete and misleading information and failed to disclose internal knowledge and this constitutes price manipulation,” the investors’ lawyers said in a statement according to Borsen.

According to the plaintiffs, Novo Nordisk has kept its long-term expectations too high for sales at its US insulin-business, Borsen said.

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