NEW YORK, Nov. 05, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of all persons or entities that purchased the securities of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI ) (“Spectrum” or the “Company”) during the period between May 7, 2015 through October 23, 2015, inclusive (the “Class Period”).
Shareholders of who incurred losses on shares on purchased within the Class Period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Spectrum Pharmaceuticals, Inc. during the period May 7, 2015 through October 23, 2015, inclusive, you may, no later than January 4, 2016 , request that the Court appoint you lead plaintiff of the proposed class.
On October 23, 2015, the Company announced that the FDA failed to approve the new drug application (“NDA”) for one of the Company’s major potential revenue drivers, Evomela—a drug directed at patients with multiple myeloma. The filed Complaint asserts that during the Class Period, the Company made repeated false and misleading statements concerning the ability of Evomela to drive the Company’s revenues, and provided assuring statements to the public that the FDA would approve its NDA, allowing the drug to be marketed immediately. When the truth was disclosed on October 23, 2015, the Company lost closed a $5.33, down $1.31, a 20% decline and has yet to recover.
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 Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Spectrum Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
