LEAD PLAINTIFF DEADLINE IS NOVEMBER 1, 2021
NEW YORK, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of persons and entities that purchased or otherwise acquired Spectrum Pharmaceuticals, Inc. ("Spectrum" or the "Company") SPPI securities between December 27, 2018 and August 5, 2021, inclusive (the "Class Period").
All investors who purchased and incurred losses are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Spectrum Pharmaceuticals, Inc., you may, no later than November 1, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Spectrum Pharmaceuticals, Inc.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that:
- the ROLONTIS manufacturing facility maintained deficient controls and/or procedures;
- the foregoing deficiencies decreased the likelihood that the FDA would approve the ROLONTIS BLA in its current form;
- Spectrum had therefore materially overstated the ROLONTIS BLA's approval prospects; and
- as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
In December 2018, Spectrum submitted a Biologics License Application ("BLA") to the U.S. Food and Drug Administration ("FDA") for ROLONTIS as a treatment for chemotherapy-induced neutropenia.
On August 6, 2021, Spectrum announced that it had received a Complete Response Letter ("CRL") from the FDA regarding the BLA, citing deficiencies related to manufacturing and requiring a re-inspection of the Company's manufacturing facility.
On this news, Spectrum's stock price fell $0.70 per share, or nearly 22%, to close at $2.55 per share on August 6, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
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