GSK plc. (NYSE: GSK)

This lawsuit is for anyone who acquired securities in GSK plc. (NYSE: GSK) from February 5, 2020 through August 14, 2022.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by knowing but failing to timely disclose that Zantac causes cancer.

On August 10, 2022, Deutsche Bank reported that it seemed “very possible” that GSK “will incur the risk of some degree of shared liability, with the only real questions being what the magnitude of liability may be” regarding its drug, Zantac, and an interaction with many foods to create the carcinogen, NDMA. While the Company repeatedly claimed that scientific research did not support a correlation between Zantac and cancer, the Deutsche Bank report stated that the total liability could be between $5 billion and $10 billion. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on August 15, 2022, GSK disclosed that its liability exposure was between $1 billion and $10 billion and analysts predicted “total exposure low billions to multiple 10s.” On this news, the price of the Company’s stock again 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 GSK plc. (NYSE: GSK) from February 5, 2020 through August 14, 2022 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.