NEW YORK, Dec. 10, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Assertio and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 8, 2023, Assertio issued a press release announcing its financial results for its third quarter (“Q3”) of 2023. Among other 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 Chief Executive Officer Dan Peisert called the Company’s Q3 2023 results “disappointing,” noting that “the loss of Indocin exclusivity and Rolvedon results below expectations dr[o]v[e] significant charges to our net income” and that the Company was learning that “certain aspects” of its July 31, 2023 acquisition of Spectrum Pharmaceuticals Inc. “may not be everything we initially expected”.
On 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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
