LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of a class (the “Class”) comprising all purchasers of the securities of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) (NASDAQ:SPPI) between August 8, 2012 and March 12, 2013, inclusive (the “Class Period”). Spectrum engages in the acquisition, development and commercialization of prescription drug products, primarily in the areas of hematology and oncology. The Company’s oncology products include FUSILEV, a treatment for patients with osteosarcoma after high-dose methotrexate therapy, to diminish toxicity and counteract the effects of impaired methotrexate elimination or inadvertent overdose of folic acid antagonists.
The Complaint alleges that during the Class Period defendants misrepresented and/or failed to disclose that: (1) the increasing availability of leucovorin -- a generic drug version of Spectrum’s FUSILEV -- would have a negative impact on the Company’s share price; (2) FUSILEV’s purported advantages over leucovorin would not be significant enough that clinics and hospitals would continue to choose the more expensive FUSILEV once leucovorin was available in larger quantities; and (3) defendants lacked a reasonable basis for their positive statements about the Company and its revenue and earnings during the Class Period.
If you are a member of the above-described Class, you may move the Court no later than May 13, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.
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