THE LAWSUIT: A class action securities lawsuit was filed against GSK plc (GSK) that seeks to recover losses of GSK shareholders who were adversely affected by alleged securities fraud between February 5, 2020 and August 14, 2022
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CASE DETAILS: According to the filed complaint, defendants represented to investors that GSK removed Zantac from the market “[b]ased on information available at the time and correspondence with regulators.” GSK also stated that it was “continuing with investigations into the potential source of NDMA.” Defendants also assured investors that “GSK, the FDA, and the EMA [European Medicines Agency] have all independently concluded that there is no evidence of a causal association between ranitidine therapy and the development of cancer in patients,” findings that were “consistent with other ranitidine data published prior to 2019.” Finally, defendants claimed that they could not “quantify or reliably estimate the liability.” These representations were materially false or misleading. In truth, GSK was fully aware of the source of NDMA and had been for nearly 40 years before withdrawing Zantac from the market.
WHAT’S NEXT? If you suffered a loss in GSK stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/gsk-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
