Spectrum Pharmaceuticals, Inc. Securities Litigation
On or around 02/19/2020 (Date of last review)
Filing Date: September 21, 2016
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the FDA previously questioned whether the data from the 611 and 612 Studies were clinically meaningful; (2) the FDA advised defendants in December 2012 not to submit the New Drug Application based on data from the 611 and 612 Studies; and (3) as a result, defendants' public statements about Spectrum's business, operations and prospects were materially false and misleading at all relevant times.
On November 15, 2016, this action was transferred to the United States District Court for the District of Nevada.
On October 6, 2017, this action was consolidated into 2:16-cv-02279.
A consolidated and amended Complaint was filed on November 21, 2017. Defendants filed a Motion to Dismiss the consolidated and amended Complaint on January 19, 2018. On September 21, the Court granted in part and denied in part the Motion to Dismiss.
On July 26, 2019, the parties filed a Notice of Settlement in principle. On December 27, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved by the Court on February 19, 2020.
Company & Securities Information
Defendant: Spectrum Pharmaceuticals, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: SPPI
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Olutayo Ayeni, et al. v. Spectrum Pharmaceuticals, Inc., et al.