BOSTON, Jan. 08, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against Assertio Holdings, Inc. (NASDAQ: ASRT) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/asrt.
What is this all about?
On November 8, 2023, Assertio Holdings announced financial results for Q3 2023 in which the Company missed consensus estimates, noting the loss of Indocin exclusivity and results from recently acquired Spectrum Pharmaceutical’s Rolvedon that were below expectations.
Shares of Assertio Holdings, Inc. stock dropped 43% in intraday trading on November 9, 2023.
The Complaint alleges that Defendants failed to disclose to investors that: (1) the Company’s reliance on Indocin products was unsustainable in light of the risks of generic competition; (2) the acquisition of Spectrum Pharmaceuticals was less valuable than Assertio had represented to investors; (3) as a result, Assertio had overstated the positive impacts the sale of Indocin products and the Spectrum acquisition were likely to have on the Company’s profitability; and (4) Defendants statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Who is eligible?
Anyone who purchased Assertio Holdings, Inc. stock between March 9, 2023 and November 8, 2023, and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is March 5, 2024. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
