LEGAL GUIDES FOR INVESTORS
If you suffered losses in Assertio stock, contact Assertio stock loss lawyer Timothy L. Miles about an Assertio class action lawsuit
INTRODUCTION TO THE 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.
In this article, we will discuss everything an Assertio shareholder needs to know 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 complaint 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 IS THE LEAD PLAINTIFF DEADLINE IN THE ASSERTIO CLASS ACTION LAWSUIT?
When a securities class action is filed such as the Assertio class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Assertio class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
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 IS THE LEAD PLAINTIFF PROCESS IN THE ASSERTIO CLASS ACTION LAWSUIT?
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Assertio stock to seek appointment as lead plaintiff in the Assertio class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Assertio stock and have further questions, contact Assertio stock loss Lawyer Timothy L. Miles today who would fight to recover your damages in an Assertio class action lawsuit if you suffered losses in Assertio stock.
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.
HOW WAS THE CLASS PERIOD DETERMINED IN THE ASSERTIO LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
To be a part of the class in the Assertio lawsuit, you must have suffered losses in Assertio stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Assertio.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE ASSERTIO LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Assertio lawsuit.
HOW CAN A ASSERTIO STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN ASSERTIO STOCK?
An Assertio stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Assertio lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE ASSERTIO LAWSUIT?
If you purchased shares during the class period and suffered losses in Assertio stock, then you are most likely a member of the class in the Assertio lawsuit and may participate in the Assertio lawsuit since you suffered losses in Assertio stock.
IF I SUFFERED LOSSES IN ASSERTIO STOCK, HOW MUCH CAN I GET OUT OF THE ASSERTIO CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in Assertio stock. Contact a Assertio stock loss lawyer who could explain your losses in greater detail if you suffered losses in Assertio stock.
WHAT IF I MISS THE LEAD PLAINTIFF DEADLINE IN THE ASSERTIO CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in suffered losses in Assertio stock, then you will automatically be a class member and entitled to share in any potential settlement or recovery. Your ability to be a class member and recover your losses is not dependent on you serving as a lead plaintiff. The sixty-day deadline applies only to those shareholders seeking to be a lead plaintiff in the Assertio class action lawsuit.
IF THERE IS A SETTLEMENT IN THE ASSERTIO CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If you receive a notice that the Assertio class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against Assertio. The notice will contain the date when any objections must be filed and will include instructions on where to send your objection and will also include a date for the final hearing in the Assertio class action lawsuit if you would like to appear and be heard by the court in the class action against Assertio.
IF I SUFFERED LOSSES IN ASSERTIO CLASS ACTION LAWSUIT STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE ASSERTIO LAWSUIT SETTLES?
If there is a settlement in the Assertio class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Assertio stock during the class period and suffered losses in Assertio stock.
The court will hold a final hearing in the Assertio class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Assertio class action 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.
HOW MUCH DOES IT COST TO HIRE A ASSERTIO STOCK LOSS LAWYER IF I SUFFERED LOSSES IN ASSERTIO STOCK?
Nothing. If you suffered losses in Assertio and are a member of the class, it does not cost anything to hire a Assertiostock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class. So, contact a Assertio stock loss lawyer today if you suffered losses in Assertio stock about a Assertio lawsuit.
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 a 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.
Nashville 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 of the 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); Americas Most Honored Lawyers 2020 â€“ 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.
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]
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