Shareholder Alert: Ademi LLP investigates whether Spectrum Pharmaceuticals, Inc. has obtained a Fair Price in its transaction with Assertio

MILWAUKEE, April 25, 2023 /PRNewswire/ -- Ademi LLP is investigating Spectrum (NASDAQ: SPPI) for possible breaches of fiduciary duty and other violations of law in its transaction with Assertio. 

Click here to learn how to join the action https://www.ademilaw.com/case/spectrum-pharmaceuticals-inc or call Guri Ademi toll-free at 866-264-3995.  There is no cost or obligation to you.

Spectrum's shareholders are expected to receive only a fixed exchange ratio of 0.1783 shares of Assertio common stock for each share of Spectrum common stock they own, implying an upfront value of $1.14 per Spectrum share (approximately $248 million) based on Assertio's stock price on April 24, 2023. Additionally, Spectrum stockholders will receive one CVR per Spectrum share entitling them to receive up to an additional $0.20 per share in total (approximately $43 million), payable in cash or stock at Assertio's election, for $1.34 (approximately $291 million). Subject to adjustments, each CVR will represent the right to receive $0.10 payable upon ROLVEDON net sales (less certain deductions) achieving $175 million during the calendar year ending December 31, 2024, and $0.10 payable upon ROLVEDON net sales (less certain deductions) achieving $225 million during the calendar year ending December 31, 2025. The transaction agreement unreasonably limits competing bids for Spectrum by imposing a significant penalty if Spectrum accepts a superior bid. Spectrum insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Spectrum's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Spectrum.

If you own Spectrum common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/spectrum-pharmaceuticals-inc.                       

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLP                                                                                       
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP