San Diego, CA -- (SBWIRE) -- 10/24/2023 -- An investor, who purchased shares of Kenvue Inc. (NYSE: KVUE), filed a lawsuit over alleged violations of Federal Securities Laws by Kenvue Inc. in connection with certain allegedly false and misleading statements made in connection with the Company's May 2023 initial public offering

Investors who purchased shares of Kenvue Inc. (NYSE: KVUE) have certain options and for certain investors are short and strict deadlines running. Deadline: December 8, 2023. NYSE: KVUE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Skillman, NJ based Kenvue Inc. operates as a consumer health company worldwide. On May 08, 2023, Kenvue Inc. (NYSE: KVUE) announced the closing of its initial public offering ("IPO") of 198,734,444 shares of its common stock at a price to the public of $22.00 per share, including the underwriters' full exercise of their option to purchase 25,921,884 shares to cover over-allotments. Shares of Kenvue's common stock began trading on the New York Stock Exchange under the symbol "KVUE" on May 4, 2023.

Soon after the IPO, a U.S. Food and Drug Administration ("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.

Shares of Kenvue Inc. (NYSE: KVUE) declined to $19.01 per share on October 17, 2023.

The plaintiff claims that the Registration Statement contained false and/or misleading statements and/or failed to disclose that Kenvue faces potential headwinds as a result of confirmed concerns about the efficacy of phenylephrine, which it knew or should have known, that Kenvue did not discuss risks relating to the efficacy of phenylephrine (or "PE") in its IPO, the utility of which had been questioned since at least 2007, that 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 that as a result, Defendants' public statements were materially false and misleading at all relevant times and negligently prepared.

Those who purchased shares of Kenvue Inc. (NYSE: KVUE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.