PHILADELPHIA, May 29, 2025 /PRNewswire/ -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Organon & Co. ("Organon" or the "Company") (NYSE: OGN) on behalf of purchasers of Organon securities between October 31, 2024 through April 30, 2025, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired Organon securities during the Class Period may, no later than JULY 22, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Organon, headquartered in Jersey City, NJ, is a healthcare company focused on women's health. In October 2024, Organon acquired Dermavant, a biopharmaceutical company focused on dermatological conditions, for $1.2 billion.
According to the lawsuit, despite the increase in debt from the Dermavant acquisition, the Company assured investors that it would maintain its dividend, which it described as its "#1 capital allocation priority." The suit alleges that, notwithstanding such representations, Organon had shifted its capital allocation priority after the Dermavant acquisition to focus on reducing its debt.
On May 1, 2025, investors learned the truth when Organon announced that management reset the Company's dividend payout from $0.28 per share to $0.02 per share. Organon's senior management explained that the Company had "reset our capital allocation priorities to accelerate progress towards deleveraging" and that "returning capital to shareholders is right now, less of a priority."
On this news, the price of Organon stock declined $3.48 per share – approximately 27% – from a closing price of $12.93 per share on April 30, 2025 to a close of $9.45 per share on May 1, 2025.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
Peter Hamner
Berger Montague PC
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SOURCE Berger Montague
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