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Class-Action Lawsuit Against Assertio Holdings Inc: Examining Allegations Post CEO Departure

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Class-Action Lawsuit Against Assertio Holdings Inc: Examining Allegations Post CEO Departure

On January 5, 2024, Assertio Holdings Inc’s stocks crashed after the news broke out that its President and CEO, Daniel Peisert, was asked to step down. The company has made it very clear that his termination was not voluntary. However, his termination was just one of a series of events that led to the culmination and the crash of its stocks and the loss to thousands of its investors.

Assertio Holdings Inc. Stock

Post the sacking of the President and CEO Daniel Peisert, shareholders filed a class action lawsuit representing the people who had bought the shares of Assertio Holdings Inc. (NASDAQ: ASRT) between March 9, 2023, and November 8, 2023. The investors who had invested during this period faced the brunt of the effects of the crash. For those who are unaware, Assertio is a commercial pharmacy company that offers different products to patients using a non-personal promotional model. However, the class action did not link the departure of the President and CEO Daniel Peisert to any fraud.

The class action lawsuit has indicted Assertio on several counts, which include:

  1. The undue reliance on the drug Indocin was not sustainable because of stiff competition from cheap generic brands.
  2. The company misled investors when it acquired Spectrum, which was of much lower value than what was told to the investors.
  3. The company stated inflated profits that it would accrue due to the Spectrum acquisition and Indocin sales.

Trouble started when the FDA granted Zydus Lifesciences three-month Competitive Generic Therapies exclusivity to market 50 mg indomethacin suppositories, a generic version of Assertio’s Indocin suppositories. Worse, Assertio withdrew its 2023 financial outlook, and the stock prices tanked by more than 45%. On Nov. 8, 2023, Assertio released third-quarter financial results, which were very bleak.

Hagens Berman Probes Assertio Holdings Inc

Reed Kathrein, the Hagens Berman partner leading the firm’s investigation, said that it is investigating the course of events that led to Peisert’s involuntary termination and if any fraud was involved. The firm has also asked investors to submit details of the losses they accrued and assist in the investigation. The firm has also asked whistleblowers to share information about the Assertio Holdings Inc stock crash and assist in the investigation.

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Hagens Berman is a nonprofit litigation law firm focusing on corporate accountability through class-action law and looks after the rights of workers, consumers, and others who have incurred financial loss due to corporate negligence and fraudulent practices.

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Manoj Nair: With a decade of news writing across various media platforms, Manoj is a seasoned professional. His dual role as an English teacher underscores his command over communication. He adeptly covers Politics, Technology, Crypto, and more, reflecting a broad and insightful perspective that engages and informs diverse audiences.

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Oak Forest Shooting Update: Multiple Victims Shot, Area Seized, No Threats To Publicly Found

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Oak Forest Shooting Update: Multiple Victims Shot, Area Seized, No Threats To Publicly Found

The Oak Forest shooting has invaded all over the social media. This mass shooting incident occurred on Sunday in Chicago in the Oak Forest area. CBS news reported that four people were shot in the incident.

Near the cul-de-sac, a huge presence of police was witnessed. Reports of gunfire could also be spotted in the southwest suburbs. 

As per the reports given by the Local Media, multiple people were in critical condition after being shot in the incident. Times Now regarded the Oak Forest shooting as a domestic incident. 

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Oak Forest Shooting Suspect Caught

Reportedly, a person was caught by the police.

As per local time, around 5:45 pm, the police reached the crime spot and responded to the shooting incident. Before reaching the place, the police got calls regarding gunshots which were fired in the 5500 block of Babette Court.

On the wake of this, the Oak Forest Police Department released a statement on social media which read the following.

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“Upon arrival, police officers found three people with gunshot wounds. Two of the victims have life-threatening gunshot wounds and are in critical condition. A third subject sustained a non-life- threatening gunshot wound and was released from an area hospital after receiving treatment.”

Also Read: Greenbelt Park Shooting: 5 People Shot, Sent To Hospital in Maryland

According to the police, numerous people were shot in the incident. Only one individual was arrested and taken into police custody on Sunday night, reported NBC Chicago.

A thorough investigation was launched by the Oak Forest Police Department immediately after the incident took place.

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Authorities seized the entire area and declared that no more threats were sensed by the police to the public.

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Manchester Mall, NH Shooting: Investigation Underway

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Manchester Mall, NH Shooting: Investigation Underway

The Manchester Mall shooting incident took place on Sunday evening in a parking lot of the Mall. The investigation into the matter was carried out by the Manchester Police Department, reported WMUR.

As according to the police log that is available on the internet, the shooting occurred around 4:50 p.m.

The investigation into the incident is still going on. However, all the people who were related to the shooting have vacated the place. 

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To block the areas of the Manchester Mall’s parking lot, Yellow police tape was made to work temporarily. However, the police team was taken down by early evening. 

Manchester Mall, NH Shooting Investigation Proceeds 

An evidence marker was found at the scene that indicated the presence of relevant objects on which further inquiry can be done. 

As per witness testimonies, a single “pop” sound from the parking lot sounded like a gunshot. 

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Until now, the information about the potential injuries expected from the incident is unclear. Authorities have not released any official statement regarding the incident yet. 

Also Read: Greenbelt Park Shooting: 5 People Shot, Sent To Hospital in Maryland

As per Patch, an investigation is going on in the Mall of New Hampshire by the law enforcement agencies.

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Chronic Wasting Disease: Death of 2 hunters in US raises fear of zombie deer disease spreading in humans

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Chronic Wasting Disease: Death of 2 hunters in US raises fear of zombie deer disease spreading in humans

The specter of COVID is still fresh in everyone’s mind about how disease which originates from animals can create havoc on the health of humans. The scientific community is worried after a new report which outlines how the death of two hunters who were stricken by a rare neurological disease was caused by eating infected deer meat.

The two hunters who consumed the meat of a Deer infected by “zombie deer disease” started showing symptoms of a rare neurological disease known as Creutzfeldt-Jakob disease (CJD) and died within a month. Creutzfeldt-Jakob disease (CJD) affects the proteins which are malformed and start collecting in the brain causing damage to the brain cells. The disease is somewhat akin to the Mad Cow Disease and there is no treatment available for the ailment. The person starts losing his cognitive abilities and death can occur within one to six months.

Chronic wasting disease was first found in the deer inhabiting the northern Colorado and southern Wyoming in the 90’s and as per the U.S. Centers for Disease Control and Prevention, the disease was also detected in free-ranging deer, elk and moose in at least 32 states across the US.

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When a deer is infected by CWD or Chronic Wasting Disease it leads to extreme weight loss, poor coordination, drooling, and lack of fear of people. The Medical fraternity is worried of the possibility of the disease being transmitted to humans much like the Mad Cow Disease which was pandemic in the UK in the 90’s. The latest study was published in 2022 by a group of scientists in Canada based on mice research, suggesting a risk of CJD transmission to humans.

Researchers from the University Of Texas Health Science Center at San Antonio have discovered that the two hunters who ate deer meat and died in 2022 suffered from Creutzfeldt-Jakob disease (CJD), which is a neurological disease. Both the men developed symptoms like confusion and aggression and died within a month despite treatment.

The researchers added that there was a distinct possibility of the transmission of the disease from animal-to-human. The report was presented earlier this month at the annual meeting of the American Academy of Neurology, and published in peer-reviewed journal Neurology. The report did not make it clear where the men lived or hunted but the highest concentration of CWD-infected deer can be found in Kansas, Nebraska, Wisconsin and Wyoming as per CDC.

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