KVUE Shareholder Update: Johnson Fistel Encourages Kenvue Investors to Seek Counsel Before Lead Plaintiff Class Action Deadline
Johnson Fistel, LLP notifies investors of Kenvue Inc. (“Kenvue” or the “Company”) (NYSE: KVUE) that a securities class action lawsuit has been filed. The lawsuit seeks to recover losses on behalf of investors who acquired securities (pursuant to the registration statement and related prospectus issued in connection with Kenvue’s initial public offering (“IPO”). Investors have until December 8, 2023, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Complaint Allegations: The lawsuit alleges that, in the IPO documents, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) Kenvue faces potential headwinds as a result of confirmed concerns about the efficacy of phenylephrine, which it knew or should have known; (ii) Kenvue did not discuss risks relating to the efficacy of phenylephrine in its IPO, the utility of which had been questioned since at least 2007; and (iii) 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.
What can Investors Do: Shareholders who incurred losses during the class period, have until December 8, 2023, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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