#USA #New York #Hagens Berman #Spectrum Pharmaceuticals #SPPI

New Opportunity for Investors in Spectrum Pharmaceuticals Securities Lawsuit

In a significant development for investors, a New York federal court has reopened the process for appointing a lead plaintiff in the ongoing securities class action against Spectrum Pharmaceuticals (SPPI). This comes after the previous lead plaintiff was disqualified due to allegations of misconduct. The new deadline for investors to apply is September 24, 2025, offering a fresh chance for those who suffered losses to take an active role in the litigation.

Background of the Case

The class action, formally known as Christiansen v. Spectrum Pharmaceuticals, Inc., et al., has been active since late 2022 in the Southern District of New York. It centers on allegations that the pharmaceutical company misled investors regarding the efficacy of its cancer treatment, poziotinib. Despite being aware of the drug’s limitations, Spectrum continued to provide optimistic statements, which ultimately led to a sharp decline in stock prices following the disclosure of FDA concerns about clinical trial results.

Following the announcement of these issues, Spectrum's shares plummeted by over 37%, causing significant financial losses for shareholders. The federal class action has already survived a motion to dismiss, which is a positive sign for the plaintiffs as they move toward class certification.

Importance of New Lead Plaintiff

Hagens Berman, the prominent national shareholder rights law firm handling the case, is actively encouraging investors who have faced substantial losses to consider stepping up as the new lead plaintiff. This role is crucial, as the lead plaintiff is responsible for representing the interests of the class and overseeing the litigation process. Involvement as a lead plaintiff can provide investors not only a voice in the proceedings but also the opportunity to ensure that their rights and interests are adequately represented.

Urgency for Affected Investors

Spectrum investors who have incurred losses during the class period from March 17, 2022, to September 22, 2022, should act promptly. The firm is urging those eligible to reach out before the approaching deadline. Hagens Berman emphasizes that representing the class can make a significant impact on the outcome of the litigation and the recovery of any potential losses.

For more information about the lawsuit and to learn about how to apply, investors can contact Hagens Berman directly at [email protected] or call 844-916-0895. The law firm also offers insights and answers to frequently asked questions to guide potential lead plaintiffs through the process.

Whistleblower Program

In addition to encouraging lead plaintiff applications, Hagens Berman is also calling attention to the SEC Whistleblower program. Individuals with non-public information related to Spectrum are urged to assist in the investigation. Whistleblowers who supply original information may receive rewards that could amount to 30% of any successful recovery made by the SEC because of their contribution.

About Hagens Berman

Hagens Berman is a leading plaintiff representation law firm specializing in complex litigation focused on corporate accountability. With a strong track record of securing financial recoveries, the firm has successfully represented investors, consumers, and whistleblowers in various high-stakes cases, recovering over $2.9 billion in total. For updates, follow Hagens Berman on social media at @ClassActionLaw.

In conclusion, the reopening of the lead plaintiff process offers a crucial opportunity for Spectrum Pharmaceuticals investors to regain their footing in the ongoing litigation. With the deadline on the horizon, affected investors are urged to act quickly.

For further details and updates, visit Hagens Berman's site.