A lawsuit was filed for certain investors in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) over alleged securities laws violations. Deadline: May 13, 2013. NASDAQ:SPPI investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 03/27/2013 --An investor in shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) filed a lawsuit in the U.S. District Court for the District of Nevada over alleged violations of Federal Securities Laws by Spectrum Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements made between August 8, 2012, and March 12, 2013 in regards to the drugs FUSILEV®.

Investors who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have certain options and for certain NASDAQ:SPPI investors are short and strict deadlines running. Deadline: May 13, 2013. NASDAQ:SPPI investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on on behalf of purchasers of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) common stock during the period between August 8, 2012 and March 12, 2013, that Spectrum Pharmaceuticals, Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements between August 8, 2012 and March 12, 2013.

The plaintiff claims that between August 8, 2012 and March 12, 2013 defendants allegedly continually dismissed concerns that sales of FUSILEV would be adversely affected by increased supplies of leucovorin and allegedly concealed the impact that the increased availability of leucovorin would have on FUSILEV sales and as a result of defendants’ statements, Spectrum’s stock traded at artificially inflated prices between August 8, 2012 and March 12, 2013, reaching a high of $13.05 per share on September 18, 2012.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) reported that its annual Total Revenue rose from $74.11 million in 2010 to $267.71 million in 2012 and that its Net Loss of $48.84 million in 2010 turned into a Net Income of $94.55 million in 2012.

Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) rose from $3.77 per share In 2010 to as high as $17.05 per share in July 2012. NASDAQ:SPPI shares closed 2012 at slightly above $11 per share.

Over the first months in 2013 NASDAQ:SPPI shares traded over $11 per share.

Then on March 12, 2013, Spectrum Pharmaceuticals, Inc. commented on anticipated first quarter performance and updated its 2013 outlook for the Company. Spectrum Pharmaceuticals, Inc. said that based upon recent communications with customers it anticipates a change in ordering patterns of FUSILEV® following the recent stabilization of the folate analog market. Spectrum Pharmaceuticals, Inc. said it expects that FUSILEV sales will be approximately $10 to $15 million for the first quarter of the year, and approximately $80 to $90 million for the 2013 fiscal year. Furthermore, Spectrum Pharmaceuticals, Inc. said that it anticipates total company revenues in the range of $160 to $180 million for the full-year 2013.

Shares of Spectrum Pharmaceuticals, Inc. dropped from $12.46 per share on March 12, 2013, to as low as $7.005 per share on March 21, 2013.

On March 26, 2013, NASDAQ:SPPI shares closed at $7.51 per share.

Those who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com