If you suffered losses in Assertio stock, contact Assertio stock loss lawyer Timothy L. Miles about an Assertio class action lawsuit
INTRODUCTION TO THE ABOUT THE ASSERTIO CLASS ACTION LAWSUIT Call us for a free case evaluation about an Assertio class action lawsuit
The Assertio class action lawsuit seeks to represent purchasers or acquirers of Assertio Holdings, Inc. (NASDAQ: ASRT) securities between March 9, 2023 and November 8, 2023, inclusive (the “Class Period”). Captioned Shapiro v. Assertio Holdings, Inc., No. 24-cv-00169 (N.D. Ill.), the Assertio class action lawsuit charges Assertio and certain of Assertio’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered losses in Assertio stock and wish to serve as lead plaintiff in the Assertio class action lawsuit, or just have general questions about your rights as a shareholder, please contact Assertio Stock Loss Lawyer Timothy L. Miles at no charge by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Assertio class action lawsuit class action lawsuit must be filed with the court no later than March 5, 2024. Read on for answers to six frequently asked questions by investors about the Assertio class action lawsuit. what are the ALLEGATIONS IN THE ASSERTIO CLASS ACTION LAWSUIT?
Assertio is a commercial pharmaceuticals company that purportedly offers differentiated products to patients utilizing a non-personal promotional model.
The Assertio class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Assertio’s reliance on Indocin products to boost its net income was unsustainable given the risk of generic competition; (ii) Assertio’s July 2023 acquisition of Spectrum Pharmaceuticals, Inc. was less valuable than Assertio had represented to investors; and (iii) accordingly, Assertio had overstated the positive impact the sale of Indocin products and the acquisition of Spectrum were likely to have on Assertio’s profitability. The Assertio class action lawsuit further alleges that on August 3, 2023, Zydus Lifesciences Limited, a generic pharmaceutical company, received approval from the U.S. Food and Drug Administration (“FDA”) to manufacture and market 50mg indomethacin suppositories, the generic version of Assertio’s Indocin suppositories. On this news, the price of Assertio stock fell nearly 46%, according to the complaint. Next, as the complaint further alleges, on November 8, 2023, Assertio reported third quarter of 2023 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. On this news, the price of Assertio stock fell more than 43%, according to the complaint. Thereafter, as the Assertio class action lawsuit further alleges, on January 3, 2024, Assertio announced that CEO, defendant Dan Peisert, was stepping down from his role as Assertio’s CEO. On this news, the price of Assertio stock fell nearly 11%, according to the complaint. 
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE ASSERTIO CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the Assertio class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the Assertio class action lawsuit.
WHAT IS A SECURTIES FRAUD CLASS ACTION SUCH AS THE ASSERTIO CLASS ACTION LAWSUIT?
A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices. Securities fraud class actions are governed by the Private Securities Litigation Reform Act (PSLRA).
One notable securities fraud class action lawsuit is the Assertio class action lawsuit. In this case, investors who purchased Assertio securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information. Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process. To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery. Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages. In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process. In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The Assertio class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets. WHAT DO THE PLAINTIFFS HAVE TO PROVE TO PREVAIL IN THE ASSERTIO CLASS ACTION LAWSUIT?
To understand the basis of the Assertio class action lawsuit, it is essential to grasp the key elements of securities fraud actions. The majority of securities fraud claims are brought under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. To prevail in a Rule 10b-5 action, a plaintiff must establish six elements:
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE ASSERTIO LAWSUIT?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Assertio stock, they may move the Court to be appointed lead plaintiff in the Assertio lawsuit.
WHAT IS THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE ASSERTIO LAWSUIT?
Objecting is telling the Court you do not believe the settlement in the Assertio lawsuit, or some part of it, is fair or reasonable. You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement. On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Assertio. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.
CONTACT AN ASSERTIO STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ASSERTIO STOCK ABOUT A ASSERTIO CLASS ACTION LAWSUIT
If you suffered losses in Assertio stock, contact Assertio stock loss lawyer Timothy L. Miles today for a free case evaluation about an Assertio class action lawsuit. Call today and see what a Assertio stock loss lawyer could do for you if you suffered losses in Assertio stock.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846–6529 Email: [email protected]
Assertio stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer ofthe South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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