Final Opportunity For Spectrum Pharmaceuticals Shareholders To Apply For Lead Plaintiff Status In Pending Securities Fraud Lawsuit

BOSTON, MA / ACCESSWIRE / November 14, 2016 / Block & Leviton LLP (http://www.blockesq.com) reminds investors in Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI - News) that November 21, 2016 will be their last chance to seek lead plaintiff status in the pending securities class actions against the Company and its Chief Executive Officer for violations of the federal securities laws. The class action covers all Spectrum investors who purchased or otherwise acquired Spectrum securities between February 28, 2013 and September 14, 2016, inclusive.

Shares in Spectrum plunged earlier this year after it was revealed that the Company failed to disclose that the FDA had advised it not to submit a New Drug Application for its drug candidate, apaziquone. Although the FDA gave this advice at a meeting in December 2012, the Company later told investors "we took this data, met with the FDA, and our understanding is and our decision is that we can go ahead and file the NDA with this drug." As one journalist wrote, that "was not a fully truthful summary of the FDA's guidance to Spectrum."

The case alleges that Defendants made false and material misrepresentations about FDA advice throughout the class period. According to the complaint, Defendants suggested to investors that the FDA would accept a New Drug Application for apaziquone, while failing to disclose that the FDA had told the Company not to submit one.

If you wish to serve as a lead plaintiff, you must move the Court no later than November 21, 2016. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member.

To learn more about your options or if you have any questions about the litigation, please contact either attorney Steven Harte or Joel Fleming at (617) 398-5600, by email at steven@blockesq.com or joel@blockesq.com, or visit http://www.blockesq.com/spectrum. Confidentiality to whistleblowers or others with relevant information is assured.

Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 70 years, and have recovered billions of dollars on their behalf. Their shareholder investigations have recently been featured in the New York Times.

CONTACT:

BLOCK & LEVITON LLP
Joel Fleming
(617) 398-5600
joel@blockesq.com

SOURCE: Block & Leviton LLP