Novartis AG (NVS)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Novartis AG ("Novartis" or "the Company") (NYSE: NVS). The investigation concerns whether Novartis and the board of directors may have breached its fiduciary duties to shareholders.
On June 25, 2020, Novartis agreed to pay $225 million in criminal penalties and disgorge $112 million to settle bribery allegations. The U.S. Department of Justice and the Securities and Exchange Commission was investigating Novartis on claims that: (1) Novartis had bribed doctors and hospitals in Greece to prescribe “Novartis-branded pharmaceuticals”; (2) the Company had paid bribes in Vietnam to advance their business; and (3) Novartis falsified their financial records to conceal said activities. Following this news, Novartis stock dropped $2.50 per share on June 26, 2020.
If you are aware of any facts relating to this investigation, or purchased Novartis shares, you can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.