Assertio Holdings, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
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.
