SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Organon & Co. - OGN
NEW YORK, Feb. 22, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Organon & Co. ("Organon" or the "Company") (NYSE: OGN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Organon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 16, 2023, Organon issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2023. Among other items, Organon reported earnings per share of $0.81, a decline of 28.3% year-over-year, and revenue of $1.49 billion, a decline of 7.4% year-over-year. Organon also reported a reduction of the Company's Established Brands revenue of $8 million for the quarter due to the initiation of a market action in certain markets for betamethasone suspension injections, related to a nonconforming component of a manufacturing line at the Company's facility in Heist, Belgium.
On this news, Organon's stock price fell $4.39 per share, or 15%, to close at $24.87 per share on February 16, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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