GSK plc Investors: Please contact the Portnoy Law Firm to recover your losses. April 7, 2025 Deadline to file Lead Plaintiff Motion

Investors can contact the law firm at no cost to learn more about recovering their losses

/EIN News/ -- LOS ANGELES, Feb. 12, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises GSK plc ("GSK" or the "Company") (NYSE: GSK) investors of a class action representing investors that bought securities between February 5, 2020 and August 14, 2022, inclusive (the "Class Period"). GSK investors have until April 7, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

GSK and its subsidiaries research, develop, and manufacture vaccines, as well as specialty and general medicines to prevent and treat diseases. According to the complaint, GSK’s heartburn and acid reflux medication, Zantac, was widely used for over two decades, generating billions in revenue for GSK and its predecessor, Glaxo. The complaint further alleges that in 1982, Glaxo scientist Dr. Richard Tanner discovered that under testing conditions set by the World Health Organization, ranitidine (Zantac’s active ingredient) reacted with nitrites—common in many foods—to produce 232,000 nanograms of N-nitrosodimethylamine (“NDMA”), a highly carcinogenic compound.

The lawsuit claims that throughout the Class Period, GSK made false or misleading statements and failed to disclose that:

1. GSK had been fully aware of NDMA’s source for nearly 40 years before withdrawing Zantac from the market.
   
2. GSK possessed unpublished data linking Zantac to cancer.
   

According to the complaint, on August 10, 2022, a Deutsche Bank report warned that GSK and other Zantac distributors were “very possibly” at risk of liability, estimating total exposure between $5 billion and $10 billion. Following this news, GSK ADRs dropped more than 10%.

On August 15, 2022, GSK acknowledged it could provide liability guidance, estimating exposure between $1 billion and $10 billion. On this news, GSK ADRs declined an additional 3%.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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