Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Christiansen v. Spectrum Pharm. Inc.

Plaintiff Adequately Alleges Drug Company's Scienter Over Statements About FDA Approval

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OPINION & ORDER Plaintiff in this putative securities fraud class action alleges that Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) and its executives (together, “Defendants”) made false or misleading statements about Spectrum’s progress securing accelerated U.S. Food and Drug Administration (“FDA”) approval of a new drug to treat lung cancer. Plaintiff brings claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§78j(b), 78t(a) (the “Exchange Act”), and related regulations. See generally Consolidated Class Action Complaint (the “CCAC”), Dkt. 67.1 On July 25, 2023, Defendants moved to dismiss the action for failure to state a claim pursuant to Federal Rule of Civil Procedure 12(b)(6). See Defs. Not. of Mot., Dkt. 69. For the following reasons, Defendants’ motion is DENIED in part and GRANTED in part. BACKGROUND2 Spectrum is a publicly traded biopharmaceutical company that develops drugs to treat cancer. CCAC 46. Thomas Riga (“Riga”) is Spectrum’s Chief Executive Officer (“CEO”). Id.

1, 47. Francois Lebel (“Lebel”) formerly was Spectrum’s Executive Vice President (“EVP”) and Chief Medical Officer (“CMO”). Id.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center

New York Legal Awards (NYLA) 2024

September 05, 2024
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.


Learn More

Women, Influence & Power in Law UK Awards 2024

March 06, 2024
London, UK

Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession.


Learn More

Florida Legal Awards (FLLA) 2024

April 04, 2024
Miami, FL

Daily Business Review honors attorneys and judges who have made a remarkable difference in the legal profession in Florida.


Learn More
Go to Events Go to Webcasts

Associate Attorney


Seeking Estate Administration Attorney for busy boutique office. Huge upside potential and growth opportunity.NYS Bar Admission and relevan...


Apply Now ›

San Francisco - Labor and Employment Associate


Description: Fox Rothschild LLP has an opening in the San Francisco, CA office for an associate in our Labor & Employment Department. Th...


Apply Now ›

(EXCLUSIVE) ASSOCIATE WANTED FOR MID-SIZED FIRM RARE OPPORTUNITY TO SUPPORT PARTNER WITH BOTH LITGATION AND TRANSACTIONAL MATTERS (Atlanta, GA)


Our client, a mid-sized Atlanta based litigation firm, is seeking to add an associate to their expanding ranks. Ideal candidates will have 2...


Apply Now ›
Go to Lawjobs

Danaher Lagnese, PC

02/22/2024
Connecticut Law Tribune

Professional Announcement


View Announcement ›

Blume Forte Fried Zerres & Molinari

02/19/2024
New Jersey Law Journal

Frederick D. Miceli has joined the firm as Of Counsel


View Announcement ›

BENCHMARK RESOLUTION SERVICES, LLC

01/29/2024
New Jersey Law Journal

Professional Announcement


View Announcement ›
Go to Professional Announcements