| COMPANY |
Kenvue Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
23-cv-20998 |
| JUDGE |
The Honorable Zahid Nisar Quraishi |
| CLASS PERIOD |
May 3, 2023 through October 8, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
Kessler Topaz Meltzer & Check, LLP has filed a class action lawsuit on behalf of those who purchased or acquired Kenvue Inc. (“Kenvue”) (NYSE: KVUE) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Kenvue's May 2023 initial public offering (“IPO”), which includes investors who purchased or acquired Kevnue shares from May 3, 2023 through October 8, 2023 (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Kenvue faced 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 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.
Current Status of Case:
On March 12, 2024, Plaintiffs filed an Amended Complaint. Defendants’ filed a Motion to Dismiss the Amended Complaint on August 26, 2024, and the Court denied Defendants’ Motion on March 24, 2025. On April 7, 2025, Defendants’ filed a Motion for Reconsideration. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.