NEW YORK, March 22, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of purchasers of securities of Spectrum Pharmaceuticals, Inc. ("Spectrum" or the "Company") (Nasdaq:SPPI) between August 8, 2012 and March 12, 2013, inclusive (the "Class Period"), seeking remedies under the federal securities laws.
The Complaint alleges that, during the Class Period, Defendants violated the federal securities laws by disseminating false and misleading statements to the investing public in connection with FUSILEV, and concealed the impact that the increased availability of competing generic drug (leucovorin) would have on sales of FUSILEV. 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 wish to serve as lead plaintiff, you must move the Court no later than May 13, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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CONTACT: Gainey McKenna & Egleston (212) 983-1300Source: Gainey & McKenna