TheGrantLawFirm, PLLC Files Class Action on Behalf of Spectrum Pharmaceuticals, Inc. Securities Purchasers
18 November 2015 - 4:11AM
Business Wire
TheGrantLawFirm, PLLC announces that it filed a class action
complaint (“Complaint”) on behalf of all securities holders who
purchased the securities of Spectrum Pharmaceuticals, Inc.
(NASDAQ:SPPI) (“Spectrum” or the “Company”) during the period
between May 7, 2015 until October 23, 2015, inclusive (the “Class
Period”). The Complaint asserts claims against the Company and its
chairman and chief executive officer, Rajesh C. Shrotriya
(“Shrotriya”) for violations of the Securities Exchange Act of 1934
and seeks to recover damages on behalf of the Class.
The Complaint asserts that during the Class Period, the Company,
through Shrotriya, made false and misleading statements and
omissions of material fact concerning the ability of Evomela to
drive the Company’s revenues and be marketed immediately, and
provided assuring statements to the public that the FDA would
approve Evomela’s new drug application (“NDA”). When the truth was
disclosed that the FDA would not approve the NDA, the Company’s
shares lost approximately 20% of their value.
If you are a member of the Class described above, you may, no
later than January 16, 2016, move the Court to serve as lead
plaintiff. In order to serve as lead plaintiff, you must meet
certain legal requirements.
A lead plaintiff is a representative party that acts on behalf
of other class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class. Under
certain circumstances, one or more class members may together serve
as “lead plaintiff.” Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead
plaintiff. You may retain the TheGrantLawFirm, PLLC, or other
counsel of your choice, to serve as your counsel in this action.
Lynda J. Grant of TheGrantLawFirm, PLLC has been actively
representing shareholders for over 30 years.
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests with respect to
these matters, please contact Lynda J. Grant at 212-292-4441 or via
e-mail at lgrant@grantfirm.com. You can also visit our website at
www.grantfirm.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151117006597/en/
TheGrantLawFirm, PLLCLynda J. Grant,
212-292-4441lgrant@grantfirm.comwww.grantfirm.com
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