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

08-23-2022 01:39 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 was announced over potential breaches of fiduciary duties by certain directors at Novartis AG.

Investors who purchased shares of Novartis AG (NYSE: NVS) 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.
On May 5, 2022, Novartis AG "announced a temporary, voluntary suspension of production at its radioligand therapy production sites in Ivrea, Italy and Millburn, New Jersey." The production halt was to "address potential quality issues identified in its manufacturing process."
Shares of Novartis AG (NYSE: NVS) declined from $88.50 per share on May 4, 2022, to $83.37 per share on May 9, 2022.

Then, on May 31, 2022, an article was published entitled "Documents show problems at Novartis facility where cancer drug production was halted." The article reported that the U.S. Food and Drug Administration had cited deficiencies at the Company's New Jersey facility following an inspection in late 2021, including a "concern that Novartis failed to notify customers about batches of Lutathera . . . that were distributed despite failing to meet quality specifications."

Shares of Novartis AG (NYSE: NVS) declined from $92.12 per share on May 24, 2022, to $88.76 per share during June 6, 2022.

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

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 lawsuits, 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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