SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Spectrum Pharmaceuticals, Inc. of Class Action Lawsuit and the
Deadline of May 13, 2013 to Seek a Lead Plaintiff Position
NEW YORK, May 7, 2013
NEW YORK, May 7, 2013 /PRNewswire/ --Levi & Korsinsky announces that a class
action lawsuit has been commenced in the United States District Court for the
District of Nevada on behalf of investors who purchased Spectrum
Pharmaceuticals, Inc. ("Spectrum" or the "Company") (NasdaqGS: SPPI) stock
between August 8, 2012 and March 12, 2013 (the "Class Period").
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According to the complaint, during the Class Period, defendants issued
materially false and misleading statements in relation to the drug FUSILEV. In
particular, the complaint alleges that the defendants concealed that: (a) once
the availability of the generic drug leucovorin increased, Spectrum's sales of
FUSILEV would plummet; (b) the purported advantages of FUSILEV over leucovorin
would not be sufficient for clinics and hospitals to continue to opt for the
more expensive FUSILEV once leucovorin was available in larger quantities; and
(c) based upon the above, defendants lacked a reasonable basis for their
positive statements about the Company and its revenue and earnings during the
Class Period. As a result of defendants' false and misleading statements,
Spectrum's stock traded at artificially inflated prices during the Class
Period, reaching a high of $13.05 per share on September 18, 2012.
If you suffered a loss in Spectrum you have until May 13, 2013 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. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP
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