SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Spectrum Pharmaceuticals, Inc. (Nasdaq – SPPI)

BALA CYNWYD – April 25, 2023 /Newsfile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) (Nasdaq – SPPI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Assertio Holdings, Inc. (“Assertio”) (Nasdaq – ASRT). Under the terms of the Agreement, Spectrum stockholders will receive 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. Following the close of the transaction, Assertio stockholders will own approximately 65% of the combined company, and Spectrum stockholders will own approximately 35%, on a fully diluted basis.

The investigation concerns whether the Spectrum Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Assertio is paying too little for the Company.

If you own shares of Spectrum stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.