Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Assertio Holdings, Inc. (“Assertio”) (NASDAQ: ASRT) securities between March 9, 2023 and January 3, 2024, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Assertio's reliance on Indocin products to boost its net income was unsustainable given the risk of generic competition; (2) the Spectrum acquisition was less valuable than Assertio had represented to investors; (3) accordingly, Assertio had overstated the positive impact the sale of Indocin products and the Spectrum acquisition were likely to have on the company's profitability; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Current Status of Case:
On August 9, 2024, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.