Kenvue is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Kenvue faces potential headwinds as a result of confirmed concerns about the efficacy of phenylephrine, which it knew or should have known; (2) Kenvue did not discuss risks relating to the efficacy of phenylephrine (or “PE”) in its IPO, the utility of which had been questioned since at least 2007; (3) while the Company disclosed risks relating to litigation, it did not disclose specific risk relating to potential litigation arising from adverse findings on the efficacy of phenylephrine; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times and negligently prepared.
If you incurred a loss on KVUE securities purchased pursuant and/or traceable to the registration statement and related prospectus issued in connection with Kenvue’s May 2023 initial public offering, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the District of New Jersey, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until December 8, 2023 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.