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Lundbeck CEO Leaves After Failing to Report Receiving Shares

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H. Lundbeck A/S said Chief Executive Officer Ulf Wiinberg will leave his post immediately after failing to disclose receiving shares in a company in which his employer later made an investment.

Wiinberg, 55, leaves “at his own request,” the Valby, Denmark-based drugmaker said today in a statement. The shares fell as much as 8.9 percent in Copenhagen before paring losses.