{"id":55750,"date":"2024-02-03T08:31:05","date_gmt":"2024-02-03T08:31:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/assertio-holdings-asrt-faces-lawsuit-analyst-slashes-price-target-amid-ceos-departure-hagens-berman\/"},"modified":"2024-02-03T08:31:05","modified_gmt":"2024-02-03T08:31:05","slug":"assertio-holdings-asrt-faces-lawsuit-analyst-slashes-price-target-amid-ceos-departure-hagens-berman","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/assertio-holdings-asrt-faces-lawsuit-analyst-slashes-price-target-amid-ceos-departure-hagens-berman\/","title":{"rendered":"Assertio Holdings (ASRT) Faces Lawsuit, Analyst Slashes Price Target Amid CEO\u2019s Departure \u2013 Hagens Berman"},"content":{"rendered":"
\n

SAN FRANCISCO, Feb. 02, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Assertio Holdings, Inc. (NASDAQ: ASRT)<\/strong> investors who suffered substantial losses to submit your losses now<\/a>.<\/p>\n


Assertio Holdings, Inc. (ASRT) Securities Fraud Class Action:<\/strong><\/p>\n

On Jan. 4, 2024, securities analyst Sidoti & Company lowered its price target of Assertio Holdings (ASRT) shares by 25% and also significantly cut its 2024 and 2025 revenue estimates. In support of its dim view of the company\u2019s immediate future, Sidoti\u2019s report cited \u201cincreased competition for Indocin and the high inventory of Rolvedon in the sales channel continues to pressure sales.\u201d<\/p>\n

The gloomy analyst projections coincide with two other recent adverse events for Assertio. First, on Jan. 5, ASRT shares nose-dived after the Company announced that CEO Dan Peisert was stepping down. Notably, Assertio characterized Peisert\u2019s separation from the company as an \u201cinvoluntary termination.\u201d<\/p>\n

Second, immediately following Peisert\u2019s termination, ASRT investors filed a securities fraud class action suit alleging Assertio securities were artificially inflated for the period of Mar. 9, 2023 and Nov. 8, 2023, inclusive.<\/p>\n

Specifically, the complaint alleges Assertio misrepresented and concealed that: (1) its reliance on Indocin products to boost its net income was unsustainable given the risk of generic products competition; (2) the Spectrum Acquisition was less valuable than Assertio had represented to investors; and (3) accordingly, Assertio had overstated the positive impact the sale of Indocin products and the Spectrum Acquisition were likely to have on the company\u2019s profitability.<\/p>\n

The truth began to emerge on Aug. 3, 2023, when the FDA granted a 180-day Competitive Generic Therapies exclusivity to Zydus Lifesciences (a company competitor) to manufacture and market 50mg indomethacin suppositories, a generic version of Assertio\u2019s Indocin suppositories. In addition, Assertio withdrew its 2023 financial outlook. On this news, Assertio\u2019s stock price fell 45%.<\/p>\n

Then, on Nov. 8, 2023, Assertio announced dismal Q3 2023 financial results. The company reported Q3 revenues of just $35.63 million (or nearly 30% below analysts\u2019 estimates) and non-GAAP EPS of just $0.01 (or about 90% below analysts\u2019 estimates), blaming the results on poor Indocin and ROLVEDON sales.<\/p>\n

Presently, the securities suit does not link Peisert\u2019s termination with the alleged fraud.<\/p>\n

“We are investigating whether Peisert\u2019s abrupt departure could be related to the alleged wrongdoing,\u201d said Reed Kathrein, the Hagens Berman partner leading the firm\u2019s investigation.<\/p>\n

If you invested in Assertio and have substantial losses, or have knowledge that may assist the firm\u2019s investigation, click here to discuss your legal rights with Hagens Berman<\/a> \u00bb<\/p>\n

If you\u2019d like more information and answers to frequently asked questions about the Assertio case and our investigation, read more<\/a> \u00bb<\/a><\/p>\n

Whistleblowers: <\/strong>Persons with non-public information regarding Assertio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895<\/strong> or email ASRT@hbsslaw.com<\/a>.<\/p>\n

About Hagens Berman<\/a>
Hagens Berman is a global plaintiffs\u2019 rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at\u00a0hbsslaw.com<\/a>. Follow the firm for updates and news at\u00a0@ClassActionLaw<\/a>.\u00a0<\/p>\n

Attorney advertising.<\/strong>
Past results do not guarantee future outcomes.<\/strong>
Services may be performed by attorneys in any of our offices<\/strong>.\u00a0<\/p>\n

Contact: <\/u>
Reed Kathrein, 844-916-0895<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, Feb. 02, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Assertio Holdings, Inc. (NASDAQ: ASRT) investors who suffered substantial losses to submit your losses now. Assertio Holdings, Inc. (ASRT) Securities Fraud Class Action: On Jan. 4, 2024, securities analyst Sidoti & Company lowered its price target of Assertio Holdings (ASRT) shares by 25% and […]<\/p>\n","protected":false},"author":2,"featured_media":55751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/51670c91-d369-4a8c-8102-d393de9f6d19","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-55750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/55750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=55750"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/55750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/55751"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=55750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=55750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=55750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}