Kaskela Law LLC is investigating Kenvue Inc. (NYSE: KVUE) on behalf of the company’s long-term investors.

Recently a securities fraud complaint was filed against Kenvue on behalf of investors who purchased or acquired shares of the company’s stock between May 8, 2023 and September 12, 2023.

According to the complaint, in connection with the company’s May 8, 2023 initial public offering (“IPO”) of common stock to investors, Kenvue and certain of the company’s senior executive officers (i) made misleading statements and (ii) failed to disclose the material risks that Kenvue was facing with respect to pending regulatory proceedings before the FDA and its advisory panel to reconsider the effectiveness of orally administered phenylephrine (“oral PE”).

As further detailed in the complaint, in September 2023, the Nonprescription Drugs Advisory Committee (“NDAC”) of the U.S. Food and Drug Administration (“FDA”) met to provide its insight and opinions as to the issue of whether oral PE is efficacious as a nasal decongestant, and whether oral PE should be reclassified as not Generally Recognized as Safe and Effective (“GRASE”) due to lack of efficacy.  At the conclusion of the meeting, the voting members of the NDAC panel voted unanimously that the current scientific data does not support the conclusion that oral PE is effective as a nasal decongestant, with one member of the panel stating that there was “compelling, convincing evidence that oral phenylephrine is ineffective at relieving symptoms of nasal congestion.”  Following the report that the NDAC had unanimously voted that oral PE was not effective, Kenvue’s share price fell by $1.01 per share, or over 4.5% in value.

The investigation seeks to determine whether the members of Kenvue’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Kenvue shareholders who purchased or acquired their KVUE shares prior to September 12m 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 – 0750