According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Assertio’s reliance on Indocin, one of Assertio’s primary pharmaceutical products, to boost its net income was unsustainable given the risk of generic competition;
- the acquisition of Spectrum Pharmaceuticals, Inc., along with Spectrum’s injection asset Rolvedon, (the “Spectrum Acquisition”) was less valuable than Assertio had represented to investors;
- accordingly, Assertio had overstated the positive impact the sale of Indocin products and the Spectrum Acquisition were likely to have on Assertio’s profitability; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
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