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 has already started to gain attention since its recent filing, and it is essential to understand the intricacies of this legal battle. This article aims to provide a comprehensive guide on navigating the Assertio class action lawsuit, from the initial filing to the eventual settlement. By delving into the legal basis of the lawsuit, the steps to file a claim, the role of the lead plaintiff, the importance of legal representation, the settlement process, factors to consider when participating in the settlement, frequently asked questions, and available resources, this guide equips individuals with the knowledge needed to make informed decisions.
Understanding the Legal Basis of the Lawsuit
Before delving into the specifics of the Assertio class action lawsuit, it is crucial to comprehend the legal basis upon which this lawsuit stands. Assertio is a commercial pharmaceutical 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 Assertio class action lawsuit 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 Assertio class action lawsuit.
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 since you suffered losses in Assertio stock. If you are a member of the class and do not wish to move for lead plaintiff, there is nothing you need to do at this time. If at some point, the class is certified or there is a settlement, you will receive a notice explaining your rights and the actions, if any, you need to take in the Assertio lawsuit
the RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE ASSERTIO CLASS ACTION LAWSUIT
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Assertio class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the Assertio class action lawsuit include:
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 will fight to recover your damages in an Assertio class action lawsuit if you suffered losses in Assertio stock.
The Stages to the Assertio class action lawsuit
Securities fraud class actions go through a series of stages. In the Assertio class action lawsuit, the various steps to the lawsuit would be as follows:
The Settlement Process in the Assertio Class Action Lawsuit
After the filing of claims and the completion of the litigation process, the Assertio class action lawsuit may reach a settlement stage. A settlement is an agreement reached between the plaintiffs and the defendant, which typically involves compensation for the affected individuals. Any settlement must be approved by the lead plaintiff(s).
The settlement amount is determined based on various factors, including the number of eligible claimants, the severity of the harm suffered, and the financial resources of the defendant, including the amount of insurance coverage.
During the settlement process, negotiations take place between the legal representatives of both parties. The plaintiffs must be represented by skilled attorneys who can effectively advocate for their rights and secure a fair settlement. Once a settlement agreement is reached and has been approved by the lead plaintiff(s) it is submitted to the court for approval. The Court must find that the settlement is fair, adequate and reasonable.
Factors to Consider When Deciding to Participate in the Settlement
When considering whether to participate in the settlement of the Assertio class action lawsuit, several factors need to be taken into account. These factors include the strength of the case, the potential compensation offered in the settlement, the cost and duration of continued litigation, and the individual's personal circumstances.
While a settlement may provide a quicker resolution and guaranteed compensation, it may not always be in the best interest of every individual involved. Consulting with an attorney is essential in evaluating the pros and cons of accepting a settlement versus pursuing further litigation by opting out and pursuing and individual case.
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.
Frequently Asked Questions about the Assertio Class Action Lawsuit
Resources for Staying Updated on the Progress of the Lawsuit
Staying informed about the progress of the Assertio class action lawsuit is essential for individuals involved in the case. Several resources can provide updates and information related to the lawsuit. These resources include the official website of the court handling the case, the website of the law firm representing the lead plaintiffs, and legal news outlets that cover class action lawsuits.
Regularly checking these resources ensures that you are aware of any new developments, important deadlines, or changes to the lawsuit that may affect your participation.
Navigating the Assertio class action lawsuit can be a complex and daunting process. However, by understanding the legal basis of the lawsuit, the steps to file a claim, the role of the lead plaintiff, the importance of legal representation, the settlement process, factors to consider when participating in the settlement, frequently asked questions, and available resources, individuals can make informed decisions and protect their rights. Remember, seeking the guidance of an experienced attorney is crucial throughout this journey to ensure the best possible outcome in this class action lawsuit.
CONTACT AN ASSERTIO STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ASSERTIO STOCK ABOUT An 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 an 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); 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.
The Law Offices of Timothy L. Miles
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