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Novo Nordisk settles case of market manipulation, will pay USD 100m

Novo Nordisk and former executives Lars Rebien Sørensen, Jesper Brandgaard and Jakob Riis have reached a settlement in the lawsuit involving alleged market manipulation between 2015 and 2016.

Photo: Niels Hougaard/ERH

A US class action litigation, which since 2017 has been hanging over Novo Nordisk and its three former executives, Lars Rebien Sørensen, Jesper Brandgaard and Jakob Riis, now seems to have reached its conclusion, the company reports in a press release.

The company writes that an agreement to settle has been reached in the case concerning alleged violations of the US securities laws. The plaintiffs, shareholders of Novo Nordisk, claimed that the company and aforementioned executives were guilty of market manipulation back in 2015 and 2016, when company share price took a significant dip over a long period.

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