Assertio Holdings, Inc.
A securities class action has been filed in the USDC —N.D.IL. against Assertio Holdings, Inc. (ASRT) (“Assertio” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Assertio securities between March 9, 2023 and November 8, 2023, both dates inclusive (the “Class Period”).
Assertio is a commercial pharmaceutical company that purportedly offers differentiated products to patients utilizing a non-personal promotional model. One of the Company’s primary pharmaceutical products is Indocin, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis. However, because there are no patents covering the Indocin products, Assertio can potentially face competition at any time from the introduction of generic versions of these products made by competitors.
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) the Company’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, thereby harming investors.
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