Kaplan Fox & Kilsheimer LLP Announces Proposed Class Action Settlement on Behalf of all Persons and Entities that Purchased the Common Stock of Spectrum Pharmaceuticals, Inc.
NEW YORK, July 20, 2026 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit all persons and entities that purchased the Common Stock of Spectrum Pharmaceuticals, Inc.:
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
| NIZAR SAMI AYOUB, Individually and on Behalf of All Others Similarly Situated, Plaintiff, v. SPECTRUM PHARMACEUTICALS, INC., THOMAS J. RIGA, and FRANCOIS J. LEBEL, Defendants. |
Case No. 1:22-cv-10292 (VEC) (Consolidated) SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION |
TO: ALL PERSONS OR ENTITIES WHO PURCHASED SPECTRUM PHARMACEUTICALS, INC. (“SPECTRUM”) COMMON STOCK BETWEEN MAY 12, 2022 AND SEPTEMBER 22, 2022, INCLUSIVE (THE “CLASS PERIOD”)
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
THE CUSIP NUMBER FOR SPECTRUM PHARMACEUTICALS, INC. (FORMERLY TRADED AS NASDAQ: SPPI) COMMON STOCK WAS 84763A108.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (“Court”), that the above-captioned action (“Litigation”) has been certified as a class action, except for certain Persons and entities who are excluded from the Class by definition as set forth in the Stipulation of Settlement, dated June 1, 2026 (“Stipulation”) and the detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”). The Stipulation and Notice can be viewed at www.strategicclaims.net/AyoubvSpectrum/.
YOU ARE ALSO HEREBY NOTIFIED that Nizar Sami Ayoub (“Lead Plaintiff”), and defendants Spectrum, Francois J. Lebel, and Thomas J. Riga (“Defendants”) have reached a proposed settlement of the Litigation on behalf of the Class for $7 million in cash (“Settlement”). If approved by the Court, the Settlement will resolve all claims in the Litigation.
YOU ARE ALSO HEREBY NOTIFIED that a hearing will be held on November 20, 2026, at 10:00 a.m., before the Honorable Valerie E. Caproni at the United States District Court, Southern District of New York, Daniel P. Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to determine whether: (1) the Settlement of the above-captioned Litigation as set forth in the Stipulation for $7 million in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Litigation with prejudice; (3) to award Lead Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice) and, if so, in what amounts; (4) to award Lead Plaintiff its costs and expenses in representing the Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.
The Court may decide to change the date and/or time of the Settlement Hearing, conduct the hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by telephone or videoconference, without further written notice to the Class. It is important that you check the Settlement website, www.strategicclaims.net/AyoubvSpectrum/, before making any plans to attend the Settlement Hearing. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will be posted to the Settlement website. Also, if the Court requires or allows Class Members to participate in the hearing by telephone or videoconference, the access information will be posted to the website.
IF YOU PURCHASED SPECTRUM COMMON STOCK BETWEEN MAY 12, 2022, AND SEPTEMBER 22, 2022, INCLUSIVE, YOUR RIGHTS ARE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.
To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) to the Claims Administrator by mail (postmarked no later than October 12, 2026) or electronically via the Settlement website (no later than 11:59 p.m. ET on October 12, 2026). Failure to submit your Proof of Claim by October 12, 2026, will subject your claim to rejection and preclude you from receiving any of the recovery in connection with the Settlement of this Litigation. If you are a Class Member and do not request exclusion from the Class (as described below), you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.
The Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement); the Proof of Claim; the Stipulation (which, among other things, contains definitions for the capitalized terms used in this Summary Notice); and other important documents may be accessed online at www.strategicclaims.net/AyoubvSpectrum/, or by writing to the Claims Administrator:
Spectrum Pharmaceuticals Securities Settlement
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.
Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Lead Counsel:
KAPLAN FOX & KILSHEIMER LLP
Jeffrey P. Campisi
800 Third Avenue, 38th Floor
New York, NY 10022
Telephone: (212) 687-1980
IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY OCTOBER 30, 2026, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. IF YOU PROPERLY EXCLUDE YOURSELF FROM THE CLASS, YOU WILL NOT BE BOUND BY ANY RELEASES, JUDGMENTS, OR ORDERS ENTERED BY THE COURT IN THE LITIGATION AND YOU WILL NOT RECEIVE ANY BENEFITS FROM THE SETTLEMENT. EXCLUDING YOURSELF FROM THE CLASS IS THE ONLY OPTION THAT MAY ALLOW YOU TO BE PART OF ANY OTHER CURRENT OR FUTURE LAWSUIT AGAINST DEFENDANTS CONCERNING THE CLAIMS BEING RESOLVED BY THE SETTLEMENT.
IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY LEAD COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES NOT TO EXCEED 25% OF THE $7 MILLION SETTLEMENT AMOUNT AND EXPENSES NOT TO EXCEED $250,000, PLUS INTEREST ON BOTH AMOUNTS, AND/OR THE REQUEST FOR AN AWARD TO LEAD PLAINTIFF PURSUANT TO 15 U.S.C. §78u-4(a)(4). ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS’ COUNSEL BY OCTOBER 30, 2026, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.
DATED: JUNE 22, 2026
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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