Investing.com -- A U.S. judge ruled on Tuesday that Novo Nordisk A/S must face part of a securities fraud class action lawsuit. The lawsuit accuses the Danish pharmaceutical company of misleading shareholders about a clinical trial for CagriSema, its weight loss and diabetes treatment.

The lawsuit centers on allegations that Novo Nordisk and its executives misled investors about the Phase 3 clinical trial, known as REDEFINE-1, for CagriSema. The case covers a class period from November 2, 2022, to December 19, 2024.

Plaintiffs claim that company executives publicly stated high confidence that CagriSema would achieve a minimum average weight loss of 25% during the class period. The lawsuit alleges that Novo Nordisk failed to disclose that the REDEFINE-1 trial protocol allowed patients to modify their own dosages based on tolerability issues.