Spectrum Pharmaceuticals, Inc. ("Spectrum") is a biopharmaceutical company focused on acquiring, developing, and commercializing drug products, with a primary focus in hematology and oncology.

According to the law firm press release, the lawsuit alleges that 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. On August 12, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

The Court issued an Order approving distribution of the Settlement funds on February 8, 2021.