Spectrum Pharmaceuticals (SPPI) and Assertio Holdings (ASRT) Investor Alert: 6-DAY DEADLINE in Securities Lawsuit- Hagens Berman

SAN FRANCISCO, Sept. 18, 2025 /PRNewswire/ -- A New York federal court has re-opened the lead plaintiff process in the Spectrum Pharmaceuticals (SPPI) securities class action. This development offers a new opportunity for investors to represent the class after the previously appointed lead plaintiff was disqualified on August 4, 2025. The new deadline to apply is September 24, 2025.

Importantly, (1) investors who purchased Spectrum (SPPI) common shares on the open market during the Class Period and (2) investors who acquired Spectrum (SPPI) common shares during the Class Period and later received shares of Assertio Holdings (ASRT) pursuant to Assertio's acquisition of Spectrum that closed on July 31, 2023 may be able to represent the alleged class of investors in a case that has already survived defendants' motion to dismiss.

Hagens Berman urges such investors who suffered substantial losses to contact the firm now.

Class Period: Mar. 17, 2022 – Sept. 22, 2022
Lead Plaintiff Deadline: Sept. 24, 2025
Visit: www.hbsslaw.com/investor-fraud/sppi
Contact the Firm Now: [email protected]
                                       844-916-0895

Background on the Securities Lawsuit

The federal class action, Christiansen v. Spectrum Pharmaceuticals, Inc., et al., has been ongoing in the Southern District of New York since late 2022. It alleges that Spectrum repeatedly assured investors that its cancer treatment drug, poziotinib, was successful despite knowing it was not. The lawsuit claims that when news broke about the U.S. Food and Drug Administration's (FDA) concerns over clinical trial results, the company's share price plummeted by more than 37%.

The case has already survived a motion to dismiss, and the plaintiffs had moved for class certification on October 30. However, the proceedings were stayed after Spectrum raised allegations of misconduct by the court-appointed lead plaintiff, leading to his disqualification. The case will remain stayed until a new lead plaintiff is selected.

Assertion Holdings Takeover of Spectrum

After the Class Period, Assertio Holdings (ASRT) acquired Spectrum Pharmaceuticals in July 2023, completing a merger transaction where Assertio acquired all outstanding shares of Spectrum in exchange for its own stock. Accordingly, investors who acquired Spectrum (SPPI) common shares during the Class Period and later received shares of Assertio Holdings (ASRT) pursuant to Assertio's acquisition of Spectrum may be class members and eligible to represent the class as lead plaintiff.

Hagens Berman Urges Investors to Act

National shareholders' rights firm Hagens Berman is actively investigating the claims and encouraging investors who suffered significant losses to consider becoming the new lead plaintiff. As a lead plaintiff, you would play a vital role in overseeing the litigation and protecting the interests of all investors in the class.

If you'd like more information and answers to frequently asked questions about the Spectrum Pharmaceuticals case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Spectrum should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

SOURCE Hagens Berman Sobol Shapiro LLP