A lawsuit was filed on behalf of investors in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) shares over alleged securities laws violations and NASDAQ:SPPI investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 09/27/2016 --An investor, who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), filed a lawsuit in California over alleged Securities Laws violations by Spectrum Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have certain options and for certain investors are short and strict deadlines running. Deadline: November 21, 2016. NASDAQ:SPPI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges on behalf of purchasers of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) common shares between December 16, 2015 and September 16, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 16, 2015 and September 16, 2016 the defendants made false and/or misleading statements and/or failed to disclose that the FDA previously questioned whether the data from the 611 and 612 Studies were clinically meaningful, that the FDA advised defendants in December 2012 not to submit the New Drug Application based on data from the 611 and 612 Studies, and that as a result, defendants' public statements about Spectrum Pharmaceuticals' business, operations and prospects were materially false and misleading at all relevant times

On September 14, 2016, the U.S. Food and Drug Administration's Oncologic Drugs Advisory Committee ("ODAC") voted against approval of Qapzola.

On September 16, 2016, an article was published that revealed in a December 2012 meeting, the FDA advised Spectrum not to file a New Drug Application for its bladder cancer drug. Although the FDA gave this advice, the Company misrepresented to investors in a May 2015 conference call that "we took this data, met with the FDA, and our understanding is and our decision is that we can go ahead and file the NDA with this drug." According to the article, that was not a fully truthful summary of the FDA's guidance to the Company.

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) declined to as low as $4.35 per share on September 21, 2016.

Those who purchased shares of Spectrum Pharmaceuticals, Inc. have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com