Daniel Webster, dWeb.News Publisher
NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) (NASDAQ: SPPI) from December 27, 2018 through August 5, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the District of Nevada alleges violations of the Securities Act of 1934.
If you purchased Spectrum securities, and/or would like to discuss your legal rights and options please visit Spectrum Shareholder Class Action Lawsuit or contact Rujul Patel toll free at (877) 779-1414 or firstname.lastname@example.org.
According to the complaint, Spectrum issued materially false and/or misleading statements and failed to disclose adverse facts pertaining to the quality and integrity of the scientific data supporting the company’s claims of efficacy for its drug ROLONTIS (eflapegrastim), a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia, which were known to, or recklessly disregarded by, the Defendants as follows: (a) the ROLONTIS manufacturing facility maintained deficient controls and/or procedures; (b) the foregoing deficiencies decreased the likelihood that the U.S. Food and Drug Administration (“FDA”) would approve the ROLONTIS Biologics License Application (“BLA”) as submitted in December 2018 in its current form; (c) Spectrum had therefore materially overstated the ROLONTIS BLA’s approval prospects; and (d) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On August 6, 2021, Spectrum announced receipt of a Complete Response Letter (“CRL”) from the FDA regarding the ROLONTIS BLA. CRL stated that there were manufacturing deficiencies and suggested that the Company’s manufacturing facility be reinspected.
On this news, Spectrum shares dropped $0. 70 per share, or 21. 54%, to close at $2. 55 per share on August 6, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than November 1, 2021. A lead plaintiff is an individual who represents other class members and acts as a mediator in the direction of litigation. You don’t have to be a lead plaintiff in order to participate in any recovery. You may be considered an absent class member if you do not take action.
If you purchased Spectrum securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/spectrumpharmaceuticalsinc-sppi-shareholder-class-action-lawsuit-fraud-stock-437/apply/ or contact Rujul Patel toll free at (877) 779-1414 or email@example.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. The Firm is not only able to represent individual investors but also has been retained by the nation’s largest pension funds to monitor their assets and pursue litigation for their clients. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. (c) 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Michael S. Bigin is the Connecticut lawyer responsible for this advertisement. Precedent results are not indicative of a similar outcome in future cases.
Bernstein Liebhard LLP
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