WELCOME TO THE SPECTRUM PHARMACEUTICALS SECURITIES SETTLEMENT WEBSITE
The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (“Notice”). Because this website is just a summary, you should review the Notice for additional details.
SUMMARY OF THE LITIGATION AND SETTLEMENT
This website relates to a proposed settlement of a class action lawsuit (the “Litigation”) brought by International Trading Group, Inc. (“Lead Plaintiff”) against defendants Spectrum Pharmaceuticals, Inc. (“Spectrum”), Joseph W. Turgeon, Kurt A. Gustafson, Francois J. Lebel, and Thomas J. Riga (collectively, “Defendants”), alleging Defendants violated §§10(b), 20(a), and 20A of the Securities Exchange Act of 1934 by making false and misleading statements and omissions to investors. Defendants deny all allegations of liability, fault, or wrongdoing whatsoever alleged in the Litigation.
The Court has not decided in favor of Defendants or Lead Plaintiff. Instead, both sides have agreed to a settlement of the Litigation for $15.95 million in cash (“Settlement”) for the benefit of the Class. On October 20, 2025, the Court will hold a Settlement Hearing to consider final approval of the Settlement and related matters.
If you are a member of the Class, you are subject to the Settlement. The Class consists of:
All Persons who purchased or otherwise acquired Spectrum common stock
between March 7, 2018, and August 5, 2021, inclusive.
Excluded from the Class are: (i) Defendants and members of the Individual Defendants’ immediate families; (ii) the officers and directors of Spectrum during the Class Period, and members of their immediate families; (iii) the legal representatives, heirs, successors, or assigns of any of the foregoing; and (iv) any entity in which any Defendant has or had a controlling interest. Also excluded from the Class is any Person who properly excludes himself, herself, itself, or themselves from the Class by submitting a valid and timely request for exclusion.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Proof of Claim and Release can be found in the Case Documents and File Claim tabs at the top of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and Plan of Allocation, after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
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SUBMIT A PROOF OF CLAIM
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The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked or submitted online on or before October 1, 2025.
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EXCLUDE YOURSELF FROM THE CLASS
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Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Request for exclusions must be postmarked on or before September 29, 2025.
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OBJECT
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Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel on or before September 29, 2025. If you submit a written objection, you may (but do not have to) attend the Settlement Hearing.
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GO TO THE SETTLEMENT HEARING ON OCTOBER 20, 2025
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Ask to speak in Court about the fairness of the Settlement, the Plan of Allocation and/or the request for attorneys’ fees and expenses. Requests to speak at the Settlement Hearing must be received by the Court and counsel on or before September 29, 2025.
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DO NOTHING
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Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.
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IMPORTANT DATES AND DEADLINES
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Submit Proof of Claim
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October 1, 2025
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Request Exclusion
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September 29, 2025
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Submit Written Objection
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September 29, 2025
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Submit Notice of Intent to Appear
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September 29, 2025
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Settlement Hearing
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October 20, 2025, at 10:00 a.m. PT
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