BOSTON, Sept. 16, 2016 /PRNewswire/ -- Shares in Spectrum Pharmaceuticals Inc. ("Spectrum" or the "Company") (NASDAQ: SPPI) plunged over 9%, after it was revealed that the Company had failed to disclose that the FDA had advised it not to submit a New Drug Application for its drug candidate, apaziquone.
Although the FDA gave this advice at a meeting in December 2012, the Company later told investors "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." As one journalist recently wrote, that "was not a fully truthful summary of the FDA's guidance to Spectrum."
Block & Leviton LLP is investigating the Company and certain of its officers to determine whether investors may be able to bring claims to recover their losses under the federal securities laws.
If you purchased Spectrum common stock between May 7, 2015 and September 14, 2016 and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Joel Fleming of Block & Leviton LLP at (617) 398-5600 or by email at Joel@blockesq.com or visit http://www.blockesq.com/spectrum.
Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
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SOURCE Block & Leviton LLP