Spectrum Pharmaceuticals $15.95M Securities Settlement

Spectrum Pharmaceuticals Inc.

Consumers who purchased or otherwise acquired Spectrum Pharmaceuticals Inc. common stock between March 7, 2018, and Aug. 5, 2021, may qualify to claim a cash award from a class action settlement.

Spectrum Pharmaceuticals Inc. agreed to pay $15.95 million to settle a class action lawsuit alleging the company and certain executives violated federal securities laws by making false and misleading statements and omissions to investors. These alleged misrepresentations are claimed to have artificially inflated the price of Spectrum’s common stock during the class period.

Who can file a Spectrum Pharmaceuticals claim?

The class consists of all persons and entities (such as trusts, investment funds or corporations) who purchased or otherwise acquired Spectrum Pharmaceuticals Inc. common stock between March 7, 2018, and Aug. 5, 2021.

Executors, administrators, guardians, conservators and trustees can file on behalf of the person or entities they represent.

How much is the securities payout?

Pro rata payment: The total settlement fund is $15.95 million. Each eligible claimant will receive a portion of the net settlement fund proportional to their recognized loss compared to all other claimants. The amount each class member receives depends on:

The total number of valid claims submitted
The amount of Spectrum stock purchased and sold during the class period
The timing of those transactions

The average distribution per share of Spectrum common stock under the plan is estimated to be about $0.06 before deductions for court-approved fees and expenses. However, actual payments may be higher or lower.

No payment will be made to claimants whose calculated award is less than $10.

How to claim a stockholder class action rebate

Class members can file a claim online or download and print the PDF claim form to complete and mail to the settlement administrator. The deadline to submit a claim is Oct. 1, 2025.

Settlement administrator's mailing address: Spectrum Pharmaceuticals Securities Settlement Claims Administrator, c/o Verita Global, P.O. Box 301171, Los Angeles, CA 90030-1171

Joint owners must submit a single claim for their joint account.

What proof and documentation are required to submit a claim?

Yes. Claimants must provide documentation supporting all transactions and holdings in Spectrum common stock. Acceptable documentation includes:

Brokerage confirmation slips
Monthly brokerage account statements
Authorized statements from a broker showing the required transaction and holding information

Claimants must also provide either the last four digits of their Social Security number or their taxpayer identification number.

Failure to provide sufficient documentation may result in the rejection of your claim.

Payout options

Payments will be made by check or electronic payment to the authorized claimant.

$15.95 million settlement fund breakdown

The $15,950,000 settlement fund covers

Settlement administration costs: To be determined
Attorneys’ fees: Up to $4,785,000
Attorneys’ expenses: Up to $200,000
Service award to lead plaintiff: Up to $12,000
Payments to eligible class members: Remaining balance after deductions

Important dates

Claim deadline: Oct. 1, 2025
Exclusion deadline: Sept. 29, 2025
Fairness hearing: Oct. 20, 2025

When is the Spectrum Pharmaceuticals securities settlement payout date?

Payments to eligible claimants will be made only after the court grants final approval and any appeals are resolved.

Why was there a class action settlement?

The class action lawsuit alleged Spectrum Pharmaceuticals Inc. and certain executives violated federal securities laws by making false and misleading statements and failing to disclose material information, which allegedly caused the company’s stock price to artificially inflate.

The defendants denied all allegations of liability, fault or wrongdoing. Both sides agreed to settle to avoid the distraction, costs and risks of further litigation and to ensure that class members would receive compensation.