Levi & Korsinsky, LLP announces the filing of a class action complaint in the United States District Court for the District of Nevada on behalf of shareholders of Spectrum Pharmaceuticals, Inc. (“Spectrum Pharmaceuticals”) (NASDAQGS: SPPI) who purchased shares between May 7, 2015 and October 23, 2015.
The complaint alleges that Spectrum Pharmaceuticals violated federal securities laws by disseminating materially false and misleading information and failing to disclose material facts, causing the stock to trade at artificially inflated prices. On October 23, 2015, Spectrum announced that it has received a Complete Response Letter from the U.S. Food and Drug Administration (FDA) in response to its New Drug Application seeking clearance for Evomela, indicating that the FDA cannot approve the application in its present form. Upon this news, shares of Spectrum Pharmaceuticals fell more than 20% on intraday trading. If you suffered a loss in Spectrum Pharmaceuticals you have until January 4, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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