ASRT Lead Plaintiff Deadline Approaching

Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed against Assertio Holdings, Inc. (ASRT) - Seite 2

On August 3, 2023, Zydus Lifesciences Limited ("Zydus"), a generic pharmaceutical company, received approval from the FDA to manufacture and market 50mg indomethacin suppositories, the generic version of Assertio's Indocin Suppositories. Specifically, the FDA granted Zydus 180-day Competitive Generic Therapies exclusivity to market the product. Following the FDA's decision, Assertio withdrew its 2023 financial outlook previously issued in May 2023.

Following this news, Assertio's stock price fell $2.44 per share, or 45.6%, to close at $2.91 per share on August 4, 2023.

Then, on November 8, 2023, Assertio issued a press release announcing its Q3 2023 financial results. In the results, Assertio reported Q3 non-GAAP earnings-per-share of $0.01, missing consensus estimates by $0.09, and revenue of $35.63 million, missing consensus estimates by $14.8 million. Assertio’s CEO called the Q3 results "disappointing," noting that "the loss of Indocin exclusivity and Rolvedon results below expectations [drove] significant charges to our net income." Assertio also indicated that “certain aspects” of Assertio’s July 31, 2023 acquisition of Spectrum "may not be everything we initially expected."

Following this news, Assertio's stock price fell $0.92 per share, or 43.19%, to close at $1.21 per share on November 9, 2023.

WHAT CAN I DO?
Assertio investors may, no later than March 5, 2024, move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Assertio investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Assertio, Shapiro v. Assertio Holdings, Inc., et al., Case No. 24-cv-00169, is filed in the United States District Court for the Northern District of Illinois.

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WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.