Kenvue, Inc. (NYSE: KVUE)

This lawsuit is for anyone who acquired securities in Kenvue Inc. (NYSE: KVUE) from April 30, 2023 through October 9, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company’s IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to state that the Company knew the FDA had concerns about the efficacy of the Company’s drug, phenylephrine.

Soon after the IPO, however, an FDA panel unanimously voted to declare oral formulations of PE ineffective for relieving nasal congestion and published its findings in a document called “Efficacy of Oral Phenylephrine as a Nasal Decongestant.” The FDA disclosed that it had been evaluating data on the efficacy of oral PE since December of 2007. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Kenvue Inc. (NYSE: KVUE) from April 30, 2023 through October 9, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.