NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Kenvue Inc. (NYSE: KVUE)?
- Did you purchase your shares pursuant and/or traceable to the Company’s May 2023 IPO?
- Did you lose money in your investment in Kenvue Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Kenvue Inc. (“Kenvue” or the “Company”) (NYSE: KVUE) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Kenvue’s initial public offering (the “IPO” or “Offering”) in May 2023. The lawsuit was filed in the United States District Court for the District of New Jersey and alleges violations of the Securities Act of 1933 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Kenvue securities, and/or would like to discuss your legal rights and options please visit Kenvue Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Kenvue is a consumer health company. According to the Complaint, the Registration Statement contained false and/or misleading statements and/or failed to disclose that Kenvue faced potential headwinds as a result of confirmed concerns and risks about the efficacy of one of its drugs, phenylephrine.
On or around September 12, 2023, the Food and Drug Administration (the “FDA”) announced that it was convening an advisory committee to “discuss the adequacy of efficacy data available for orally administered phenylephrine as a nasal decongestant and whether the oral nasal decongestants phenylephrine hydrochloride and phenylephrine bitartrate should be reclassified as not Generally Recognized as Safe and Effective (GRASE) due to lack of efficacy.”
Since the IPO, and as a result of the disclosure of material adverse facts omitted from Kenvue’s Registration Statement, Kenvue’s share price has fallen substantially below its IPO price. As of October 6, 2023, Kenvue’s shares closed at $20.07, an 8.77% decline from the IPO price.
If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Kenvue securities, and/or would like to discuss your legal rights and options please visit Kenvue Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
