Assertio Allegedly Overstated Impact of Spectrum Acquisition

Assertio Holdings Inc. and two top executives oversold the impact the company’s acquisition of Spectrum Pharmaceuticals Inc. would have on profitability, according to a shareholder class action complaint.

The alleged misrepresentations took place over eight months and included disclosures that the company issued before and after the deal to buy Spectrum closed in July 2023. The company misled investors about the sustainability of its income strategy relying on single category of products, as well as the value of the acquisition, according to the complaint filed Jan. 5 in US District Court for the Northern District of Illinois.

Assertio allegedly overstated ...