Business
Assertio Holdings, Inc. Announces Preliminary Court Approval of Shareholder Derivative Settlement
LAKE FOREST, Ill., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT) today announced that on October 28,
About this update from Assertio Holdings, Inc.
[{"type":"text","content":"LAKE FOREST, Ill., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT) today announced that on October 28, 2021, the Superior Court of the State of California for the County of Alameda (the “Court”) preliminarily approved a settlement agreement (the “Settlement”) resolving three shareholder derivative lawsuits involving the Company’s subsidiary, Assertio Therapeutics, Inc. (“Assertio Therapeutics”). The Settlement was previously disclosed in the Company’s quarterly report on Form 10-Q for the period ended September 30, 2021. The derivative lawsuits have been pending against Assertio Therapeutics, as a nominal defendant, and certain of its current and former officers and directors. In accordance with the Court’s Order Preliminarily Approving Settlement, the Company is issuing this press release and making disclosure of the Settlement to its shareholders in the attached Summary Notice of Shareholder Derivative Litigation, Proposed Settlement, and Settlement Hearing (“Summary Notice”). The terms of the Settlement are described in the Summary Notice attached to the end of this press release. About Assertio Assertio is a leading commercial pharmaceutical company bringing differentiated products to patients. The Company has a robust portfolio of branded prescription products in three areas: neurology, hospital and pain and inflammation. Assertio has grown through business development including licensing, mergers and acquisitions. To learn more about Assertio, visit www.assertiotx.com. Investor Contact Max NemmersHead, Investor Relations and Administration [email protected] Forward Looking Statements Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio’s current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio. All statements other than historical facts may be forward-looking statements and can be identified by words such as...