$SPPI Settlement Update: The court has approved the $7M investor settlement
The case alleged that Spectrum Pharmaceuticals misled the market about poziotinib’s dosing, its FDA interactions, and the status of the PINNACLE confirmatory study. After FDA briefing materials raised concerns in September 2022, $SPPI dropped 37%.
With the settlement now approved, eligible investors may be able to submit a claim: https://11th.com/cases/sppi-investor-settlement
Everything you need to know about the $15.95M $SPPI Settlement Payout
Q: What happened?
A: Spectrum Pharmaceuticals has agreed to settle with investors to resolve claims that it misled them about the effectiveness and FDA approval prospects of its two lead drug
Q: Am I actually eligible?
A: If you bought $SPPI shares between 2018 and 2021, you’re likely eligible. You don’t need to hold the stock still to claim; past losses count
Q: When do payouts happen?
A: Typically, within 4–9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
Q: I missed the deadline. Is it too late?
A: Not necessarily! We are currently processing 'Late-but-Valid' claims. The court often accepts these as long as the fund hasn't been distributed yet.
Q:Do I need to sell/lose my shares to get this settlement?
A: No, if you have purchased securities within the class period, you are eligible to participate.
You can check your eligibility and submit your claim: https://11th.com/cases/spectrum-investor-settlement
Update for $SPPI investors: the proposed $7M settlement has been submitted to the court for approval.
The settlement claims that Spectrum Pharmaceuticals misled investors about poziotinib's dosing, its communications with the FDA, and the status of the PINNACLE confirmatory study. After those issues came to light, the stock fell about 37%.
Investors who are eligible may now be able to submit a claim.
https://11th.com/cases/sppi-investor-settlement
@Luckybreak a majority of long term $SPPI / $ASRT holders will have been forced into selling this in the market prior to the result, otherwise like us now their cash will have been locked in this thing.
Nice to see $SPPI higher these days, but don't forget what happened back in the day.
$SPPI stock dropped nearly 80% after concerns emerged around the prospects of Poziotinib and Rolontis, ending up in a $15.95M investor settlement.
So if you missed the deadline, don’t miss this update. You may still be able to recover losses from $SPPI, as late claims are currently being accepted: https://11th.com/cases/spectrum-investor-settlement
Who can apply? If you bought or held $SPPI between March 7, 2018 and November 3, 2021, you're likely eligible even if you already sold your shares.
$SPPI Settlement update for Spectrum Pharmaceuticals investors.
The proposed $7M settlement has advanced to a Stipulation of Settlement, marking another step forward in the case. The settlement claims that Spectrum misled investors about poziotinib's dosing, its FDA interactions, and the status of the PINNACLE confirmatory study.
Investors who purchased shares between March 7, 2018 – August 5, 2021, you may be eligible to file your claim: https://11th.com/cases/sppi-investor-settlement
Don't forget that there is also another important settlement to watch for $SPPI
We have every detail, including how investors can get paid: https://11th.com/cases/sppi-investor-settlement
If you missed the deadline, don’t miss this update. This is probably the most useful info you’ve read in years about $SPPI — how you can actually recover something, late claims are currently being accepted: https://11th.com/cases/spectrum-investor-settlement
@Chuckuk given $SPPI and $ASRT 's history with litigation and reputational damage, you would think $35 - $39 would be a relatively small price to pay. Most here likely wouldn't object to some Zydus equity to be included in the deal, seems to be performing well and at least means those investors who are massively underwater still (hopefully) see the Rolvedon success story.
@Chuckuk I know $ASRT were desperate when they acquired $SPPI, but for Zydus to match it they would need to tender $41. $ASRT is financially in a much better place than $SPPI and Rolvedon is now better positioned to achieve the expected annual revenue ($100-$200M, greater if indication was expanded). Anyway the numbers are still way off even at $30 tender.
@Chuckuk you couldn't make it up. I remember the experience well, very brief relief $SPPI debt was gone shortly followed by the horror of the $ASRT stock plummeting on Zydus generic in after-hours trading. One car-crash after another.
$SPPI / $ASRT — Spectrum Pharmaceuticals new investor settlement
A tentative settlement was reached this year. Terms are being finalized, but you can already submit a claim to get payment.
- What happened?
Spectrum allegedly misled investors about the FDA approval prospects for poziotinib, including claims that the company had optimized dosing and was aligned with the FDA on its confirmatory study. In September 2022, FDA briefing materials revealed concerns about the drug’s efficacy, toxicity, dose optimization, and delayed confirmatory trial, leading to a negative advisory committee vote, a sharp stock decline, and a later complete response letter from the FDA
-Who qualifies?
Buyers of $SPPI between May 12, 2022, and September 22, 2022.
➡️ Apply now:https://11th.com/cases/sppi-investor-settlement
