| COMPANY |
Assertio Holdings, Inc. |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
23-cv-00169 |
| JUDGE |
The Hon. Franklin Ulyses Valderrama |
| CLASS PERIOD |
March 9, 2023 through November 8, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
Kessler Topaz Meltzer & Check, LLP has filed a class action lawsuit on behalf of those who purchased or acquired Assertio Holdings, Inc. (“Assertio”) (NASDAQ: ASRT) securities between March 9, 2023 and January 3, 2024, both dates 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 April 11, 2024, The Court appointed Lead Plaintiff and Approval of Lead Counsel. Motion to Reconsider Lead Plaintiff was filed April 12, 2024. On April 30, 2024, The Court entered an Order Denying the Motion to Reconsider Lead Plaintiff. Lead Plaintiff filed an Amended Complaint on June 10, 2024. Defendants filed a Motion to Dismiss the Amended Complaint on August 9, 2024. The Motion is pending decision before the Court. The action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 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.