SHAREHOLDER ALERT: Weiss Law Investigates Spectrum Pharmaceuticals, Inc.

NEW YORK, April 27, 2023 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spectrum Pharmaceuticals, Inc. ("Spectrum Pharmaceuticals" or the "Company") (NASDAQ:SPPI), in connection with its acquisition by Assertio Holdings, Inc. (NASDAQ:ASRT) ("Assertio"). Under the merger agreement, the Company's shareholders will receive 0.1783 shares of Assertio common stock for each of their shares, representing implied per-share consideration of $0.89 based upon Assertio's April 26, 2023 closing price of $5.00. Additionally, Spectrum Pharmaceuticals shareholders will receive one Contingent Value Right ("CVR") per Spectrum share entitling them to receive up to an additional $0.20 per share in total. Upon completion of the transaction, Assertio shareholders will own 65% while Spectrum Pharmaceuticals shareholders will only own 35% of the combined company.