Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Assertio stock. Assertio investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 3, 2023, the U.S. Food and Drug Administration (FDA) granted Zydus Lifesciences Limited (Zydus) approval and 180-day Competitive Generic Therapies exclusivity to market its generic version of Assertio's Indocin Suppositories. In response, Assertio withdrew its 2023 financial outlook, leading to a significant drop in Assertio's stock price, which fell by $2.44, or 45.6%, closing at $2.91 per share on August 4, 2023, resulting in losses for investors.
Then, on November 8, 2023, Assertio released its third-quarter 2023 financial results, reporting non-GAAP earnings per share of $0.01, missing consensus estimates by $0.09, and revenue of $35.63 million, falling short of consensus estimates by $14.8 million. Additionally, the company mentioned that it was discovering that certain aspects of its acquisition of Spectrum Pharmaceuticals Inc. in July 2023 "may not be everything [it] initially expected." This announcement caused Assertio's stock price to decline by $0.92, or 43.2%, closing at $1.21 per share on November 9, 2023, resulting in further investor losses.
Finally, on January 3, 2024, Assertio announced the departure of its CEO. This news led to a decrease in Assertio's stock price by $0.12, or 11%, closing at $1.01 per share on January 4, 2024, causing additional harm to investors.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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