Investors of Spectrum Pharmaceuticals Urged to Act Before Short Deadline in Lawsuit

Investor Alert: Spectrum Pharmaceuticals and Assertio Holdings

As of September 20, 2025, a significant development has occurred in the securities class action against Spectrum Pharmaceuticals (SPPI) as a New York federal court has re-opened the process for appointing a lead plaintiff. This scenario creates an essential opening for investors who wish to join the legal battle following the disqualification of the previously appointed lead plaintiff on August 4, 2025. The new deadline for individuals interested in stepping forward is September 24, 2025.

Current Situation

Investors who purchased common shares of Spectrum during the class period or those who acquired shares of Assertio Holdings (ASRT) as part of the acquisition that closed on July 31, 2023, may be eligible to represent their fellow investors. This class action lawsuit, which has made significant progress by surviving previous motions to dismiss, alleges that Spectrum misled investors about the performance of its cancer treatment drug, poziotinib.

After the U.S. Food and Drug Administration (FDA) expressed concerns regarding this drug, Spectrum's stock plummeted by over 37%, leaving many investors facing substantial losses.

Background of the Lawsuit

The lawsuit titled Christiansen v. Spectrum Pharmaceuticals, Inc., et al., has been in motion in the Southern District of New York since late 2022. Investors are accusing the company of knowingly misrepresenting the success of its drug while being aware of its shortcomings. The class period spans from March 17, 2022, to September 22, 2022, aligning with the critical timeline during which these alleged deceptions occurred.

Upon the revelation of the FDA's concerns, the fallout was immediate and severe, triggering the steep decline in share prices. Following this, a motion for class certification was submitted, although proceedings have been previously halted due to misconduct allegations against the lead plaintiff. Now, the focus is on selecting a new lead plaintiff to move forward.

Assertio Holdings' Acquisition of Spectrum

Notably, Assertio Holdings acquired Spectrum Pharmaceuticals post-class period in July 2023, thereby further complicating the investor landscape. Individuals who bought shares of Spectrum and later received Assertio shares during the merger might also be considered class members and potentially lead plaintiffs in this ongoing litigation.

Hagens Berman's Call to Action

Hagens Berman, a well-known national shareholders' rights firm, is actively investigating the claims associated with Spectrum and is encouraging affected investors to come forward. Taking on the role of lead plaintiff not only allows you to participate in overseeing the litigation but also helps in safeguarding the interests of all investors involved.

Investor participation is crucial in this case and could significantly impact the outcome for many affected parties. So, if you think you qualify, now is the time to act before the September 24 deadline. Hagens Berman is available to guide you through the process and answer any questions you might have regarding your involvement and rights as an investor.

Whistleblower Information

Additionally, individuals with insider information about Spectrum are encouraged to consider utilizing the SEC Whistleblower program, which offers rewards of up to 30% for contributing original information that aids in recovery efforts. This program could provide a unique opportunity to assist in the broader investigation into Spectrum’s issues.

For further assistance or detailed answers to FAQs regarding the ongoing case, interested parties can visit the Hagens Berman website or contact them directly at [email protected] or call at 844-916-0895. The firm's commitment to corporate accountability is robust, having achieved over $2.9 billion in settlements on behalf of its clients in various cases involving corporate negligence and misconduct. Don't miss the opportunity to protect your rights and join the fight for justice.

For continuous updates and further developments, you can follow Hagens Berman on social media at @ClassActionLaw.