Assertio (US:ASRT) Globenewswire·2025-09-23 20:37Core Points - A New York federal court has re-opened the lead plaintiff process in the Spectrum Pharmaceuticals (SPPI) securities class action, allowing new investors to apply by September 24, 2025 [1][2] - The class period for the lawsuit is from March 17, 2022, to September 22, 2022, and the case has survived a motion to dismiss [3][4] - The lawsuit alleges that Spectrum misled investors about the success of its cancer treatment drug, poziotinib, leading to a share price drop of over 37% when FDA concerns were revealed [3][4] Company Background - The federal class action, Christiansen v. Spectrum Pharmaceuticals, Inc., has been ongoing since late 2022, focusing on alleged misrepresentations regarding the efficacy of poziotinib [3][4] - Assertio Holdings (ASRT) acquired Spectrum Pharmaceuticals in July 2023, allowing investors who received ASRT shares post-acquisition to potentially represent the class [5] Legal Proceedings - The proceedings were previously stayed due to allegations of misconduct by the court-appointed lead plaintiff, which resulted in his disqualification [4] - Hagens Berman is actively encouraging investors who suffered significant losses to consider becoming the new lead plaintiff, emphasizing the importance of this role in overseeing litigation [6]