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Investigation announced for Long-Term Investors in shares of Novartis AG (NYSE: NVS) over potential Wrongdoing

09-17-2020 12:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Novartis AG (NYSE: NVS) shares over potential wrongdoing at Novartis AG was announced.

An investigation on behalf of investors in Novartis AG (NYSE: NVS) shares over potential wrongdoing at Novartis AG was announced.

An investigation on behalf of current long-term investors in shares of Novartis AG (NYSE: NVS) was announced over potential breaches of fiduciary duties by certain directors at Novartis AG.

Investors who purchased shares of Novartis AG (NYSE: NVS) and currently hold any of those Novartis AG (NYSE: NVS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Novartis AG directors breached their fiduciary duties and caused damage to the company and its shareholders.

Switzerland based Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. Novartis AG reported that its annual Total Revenue declined from over $53.16 billion in 2018 to over $48.67 billion in 2019, and that its Net Income declined from over $12.61 billion in 2018 to as low as $11.73 billion in 2019.

On June 25, 2020, Novartis AG agreed to pay $225 million in criminal fines and disgorge $112 million in settling bribery allegations brought forth by the U.S. Department of Justice and the Securities and Exchange Commission. Novartis AG was under investigation for claims that: (1) the Company 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) the Company had falsified their financial records to conceal said activities.

Shares of Novartis AG (NYSE: NVS) closed on July 14, 2020, at $87.47 per share.

Those who purchased shares of Novartis AG (NYSE: NVS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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