Novartis AG (NVS)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of 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 certain of its officers and/or directors have violated federal securities laws.
On August 6, 2019, the U.S. Food and Drug Administration (“FDA”) announced that Novarits had submitted its biologics license application (“BLA”) for its gene therapy drug, Zolgensma, and that data in the application had been manipulated. The announcement continued to state that the Company “became aware of the issue of the data manipulation that created inaccuracies in their BLA before the FDA approved the product yet did not inform the FDA until after the product was approved.” Novartis is currently under FDA investigation and may be subject to further penalties. Following this news, Novartis stock dropped $2.50 per share, or roughly 3%, to close at $88.22 on August 6, 2019.
If you are aware of any facts relating to this investigation, or purchased Novartis shares, you can learn more about the investigation by contacting 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.