TheGrantLawFirm, PLLC Files Class Action on Behalf of Spectrum Pharmaceuticals, Inc. Securities Purchasers

TheGrantLawFirm, PLLC announces that it filed a class action complaint (“Complaint”) on behalf of all securities holders who purchased the securities of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) (“Spectrum” or the “Company”) during the period between May 7, 2015 until October 23, 2015, inclusive (the “Class Period”). The Complaint asserts claims against the Company and its chairman and chief executive officer, Rajesh C. Shrotriya (“Shrotriya”) for violations of the Securities Exchange Act of 1934 and seeks to recover damages on behalf of the Class.

The Complaint asserts that during the Class Period, the Company, through Shrotriya, made false and misleading statements and omissions of material fact concerning the ability of Evomela to drive the Company’s revenues and be marketed immediately, and provided assuring statements to the public that the FDA would approve Evomela’s new drug application (“NDA”). When the truth was disclosed that the FDA would not approve the NDA, the Company’s shares lost approximately 20% of their value.

If you are a member of the Class described above, you may, no later than January 16, 2016, move the Court to serve as lead plaintiff. In order to serve as lead plaintiff, you must meet certain legal requirements.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain the TheGrantLawFirm, PLLC, or other counsel of your choice, to serve as your counsel in this action. Lynda J. Grant of TheGrantLawFirm, PLLC has been actively representing shareholders for over 30 years.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Lynda J. Grant at 212-292-4441 or via e-mail at [e-mail]. You can also visit our website at www.grantfirm.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151117006597/en/

TheGrantLawFirm, PLLCLynda J. Grant, [e-mail]