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ASRT.US
id: 965
Assertio Holdings mis-representation and mis-management of Spectrum Acquistion causing subsequent Aug 2023 46% decline and Nov 2023 39% declienes
Have been a shareholder in Spectrum Pharma $SPPI and its acquirer Assertio Holdings $ASRT for nearly 4 years and have suffered continued losses due to the companies mis-management of their FDA approval process for drug Rolvedon which caused a 9 month delay and share declines. Also the terms of the acquistion by $ASRT were very suspect and not transprent and caused the share price within 6 months of the merger to declie 90% due to the leadership giving mis-leading and false guidance about the combined companies revenue forecast and gross underperformance which caused massive share drops of 46% in Aug 2023 earnings call and again 39% in Dec 4 earnings report.
Case Status
Inactive Investigation
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management,
Shareholder
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08/04/2023