On February 22, 2023, market analyst Bonitas Research published a report on Harrow. The report alleged, among other things, that Harrow had concealed a U.S. Department of Justice (“DOJ”) investigation into its sales practices, that it had engaged in suspect transactions with former subsidiaries in order to enrich Company insiders at the expense of shareholders, and that it engaged in a pattern of sub-par business practices, resulting in a slew of warnings from the U.S. Food and Drug Administration (“FDA”).
On this news, Harrow’s stock price fell 10% during intraday trading from the prior closing price.
