Ayoub v. Spectrum Pharmaceuticals, Inc., et al. 

United States District Court for the Southern District of New York

Putative Class Period based on motion practice: may 12, 2022 – september 22, 2022

Attorneys:

Jeffrey P. Campisi

JCampisi@kaplanfox.com

Documents:

• Amended Complaint
• Opinion & Order on Motion to Dismiss
• Stipulation of Settlement
• Preliminary Approval of Settlement

Court Grants Preliminary Approval of $7 Million Settlement in Ayoub v. Spectrum Pharmaceuticals, Inc.

A federal court in the Southern District of New York has preliminarily approved a proposed class action settlement in Ayoub v. Spectrum Pharmaceuticals, Inc., Case No. 1:22-cv-10292 (VEC).

If you purchased Spectrum Pharmaceuticals, Inc. (“Spectrum”) common stock (CUSIP: 84763A108) between May 12, 2022, and September 22, 2022, inclusive, you could be entitled to a payment from a proposed settlement (“Settlement”) reached in the above-captioned action

(“Litigation”).

Your rights may be affected by this Litigation and the Settlement. A hearing will be held on November 20, 2026, at 10:00 a.m. at the United States District Court, Southern District of New York, Daniel P. Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007 (“Settlement Hearing”), before the Honorable Valerie E. Caproni, to determine whether the proposed Settlement of the Litigation against Defendants Spectrum, Francois J. Lebel, and Thomas J. Riga for $7 million in cash and the Plan of Allocation should be approved as fair, reasonable, and adequate; whether the Litigation should be dismissed with prejudice against Defendants, as set forth in the Stipulation of Settlement (“Stipulation”) filed with the Court; and whether Lead Counsel’s application for an award of attorneys’ fees of up to 25% of the Settlement Amount, and expenses not to exceed $250,000, plus interest on both amounts, and an award to Lead Plaintiff, should be granted.

If approved, the Settlement will resolve a putative class action lawsuit alleging that, in violation of the U.S. federal securities laws, the Defendants misled investors by making materially false and misleading statements and failing to disclose material information, which caused Spectrum’s stock to trade at artificially inflated prices until the nature of the alleged wrongdoing was revealed, causing Spectrum’s stock price to fall. Defendants deny the allegations and any liability or wrongdoing of any kind. For a full description of the proposed Settlement and your rights, and to make a claim, you may obtain the Stipulation, long-form Notice of Pendency and Proposed Settlement of Class Action (“Notice”), and the Proof of Claim and Release form (“Claim Form”) by visiting the website: www.strategicclaims.net/AyoubvSpectrum/ (“Website”) or you may request copies of the documents from the Claims Administrator by: (i) mail: Spectrum Pharmaceuticals Securities Settlement, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063, email at: info@strategicclaims.net, or (ii) toll-free by calling: 1-866-274-4004.

To qualify for a payment from the Settlement, you must submit a valid Claim Form, with supporting documentation, postmarked or submitted online no later than October 12, 2026. Your pro rata share of the Settlement will depend on the number of valid claims, and the number, size, and timing of your transactions in Spectrum common stock. The estimated average distribution per share is approximately $0.08, before deducting any Court-approved fees and expenses. Your actual share of the Settlement will be determined pursuant to the proposed Plan of Allocation set forth in the Notice, or other plan approved by the Court.

You will be bound by any judgment or order entered in the Litigation, regardless of whether you submit a Claim Form, unless you exclude yourself from the Class. If you exclude yourself from the Class, you cannot get money from this Settlement. If you are a Class Member and do not exclude yourself from the Class, you may object to the proposed Settlement, Plan of Allocation, and/or request for award of attorneys’ fees and expenses and award to Lead Plaintiff no later than October 30, 2026. The long-form Notice and the Website explain how to exclude yourself from the Class or how to object.

Lead Plaintiff and the Class are represented by Lead Counsel: Jeffrey P. Campisi, Kaplan Fox & Kilsheimer LLP, 800 Third Avenue, 38^th Floor, New York, NY 10022, (212) 687-1980, jcampisi@kaplanfox.com. You may, but do not have to, attend the Settlement Hearing to be

heard. The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means and/or change its date and/or time. Please check the Website for updates.

Important Deadlines and Key Dates

Class members who wish to participate in the Settlement must submit a timely and valid Claim Form. Those who do not wish to be bound by the settlement must request exclusion by the stated deadline. Class members who remain in the class may also object to any aspect of the settlement.

The Court’s preliminary approval order establishes several important deadlines for class members:

• October 12, 2026: Deadline to submit Claim Forms
• October 30, 2026:
  • Deadline to request exclusion (opt-out) from the class
  • Deadline to file objections to the settlement, plan of allocation, or fee request

Final Approval Hearing

• The Court will make a final determination on whether to approve the settlement at the November 20, 2026 hearing.

For more information about the settlement or your rights, please contact Class Counsel:

Jeffrey P. Campisi
Kaplan Fox & Kilsheimer LLP
800 Third Avenue, 38th Floor
New York, NY 10022
Phone: (212) 867-1980
Email: jcampisi@kaplanfox.com