How SPPI board, current CEO and Ex-CEO Rajesh Shrotriya cheated Stockholders?

Discussion in 'Spectrum Pharmaceuticals' started by anonymous, Feb 3, 2018 at 4:21 AM.

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  1. anonymous

    anonymous Guest

    All executives @ SPPI are enjoying public money without any rules and cheated Stockholders since day 1. Since Long time same culture still continues @SPPI

    1. On Jan 18, 2017 then CEO Rajesh Shrotriya called then COO Joe Turgeon and told him that he has a plan which will make him rich and Joe SPPI CEO but that will be by cheating stockholders and investors and making fool of everybody. JT agreed to the plan. Plan was to creat a CEO contract that if CEO is ever fired from SPPI without any show cause then he will receive $65 million + $129 million in cash and stocks as severance. Then Raj would force his own termination to grab this amount + tons of other bennefits.

    2. Raj followed on this plan and spoke to his BODs. All BOD members are Raj's doormats and were hired by him only and agreed to the plan as they were too to bennefit out of this too.

    3. On Dec 16, 2017..a day after SPPI Christmas party..Raj called a meeting and made Stuart Krassner /a non threatening academic guy/ chairman and ask him to draft his termination letter and got himself fired and made Joe Turgeon CEO of SPPI. Plain and simple story.

    4. On Jan 14, 2018...Rajesh Shrotriya received first part of his severance $72 million in cash and on Jan 16, 2018 he sold another $85 million in SPPI stocks in open market + still enjoying SPPIs BOD position. Heard he is under scanner from lot of agencies along with current CEO JT.


    So this is how ex-CEO Raj and current BOD and executives cheated public and investors and continue to do so...
     

  2. anonymous

    anonymous Guest

    Very True! Raj has also made sure all his Indian bootlicker VPs keep getting free privileges @ SPPI and has instructed his puppet Joe T not to fire any Indian employee from SPPI a Raj may come back and he needs all these touts.
     
  3. anonymous

    anonymous Guest

    SPPI is a sh*thole. This all management change is a DRAMA from rigged BODs. JT has done no Chang's so far and he won't be able to any as he is worse then Raj. He does not even seems to be an American CEO.
     
  4. anonymous

    anonymous Guest

    Raj was one of the worst person you will ever work with and current SPPI is all his shadow. This place is all right rigged up to fool investors and stock holders. After reading above we now know after Raj current CEO Joe and BOD are all rigged up just like Raj systematically schemed his way out with $152 million of investors money in exit strategy through his self planned firing. It was all planned and BOD are corrupt as hell.
     
  5. anonymous

    anonymous Guest

    Well SPPI BOD are all corrupt too. They take bonuses and enjoy tons of freebies. They got bootlicker low grade asian-indian employees who are sucking blood of SPPI like parasites. If this board was a genuine board they should have let go all asians/Indians ex-CEO Raj hired from low level to top Management. It is still a corrupt setup and incompetent board can't do anything to correct that. Some of these BOD are there forever on board like 10+ years or so. WTF??
     
  6. anonymous

    anonymous Guest

    This is an all asian/Indian company with all grey Indians from India deciding all and still LL decisions are taken by Raj from backdoor. CEO firing was a complete drama.
    JT and TR are just doormats following on the guidance of all Indian VPs ex-CEO Raj hired. They know JT and TR will have yo keep them and listen tot them due to the non awareness of clinical science.
     
  7. anonymous

    anonymous Guest

    Absolutely, that's why all these dirty corrupt incapable Indians are still there. President Trump is absolutely true about them. These incapable people make American workforce suffer while they are absolutely incapable of bringing any good. They were hired because they are absolute bootlickers and will even clean your toilets if you are their boss.

    Guessss...SPPI board is so currupt that after the firing drama of ex-CEO Raj they never really touched any Indian VP of SPPI who were extremely low level incapable people hired by ex-CEO Raj. Some of these folks are Pramod Gupta, Anil Hiteshi, Gajanan Bhat, Guru Reddy, Chander Vasnandani, Shanta Chawla. Dig about these people and their past and it will tell you how incapable these folks are but will make you think why are they still @ SPPI?

    Courtsey...courrupt CEO & Board Members..poor investors can't do anything!!
     
  8. anonymous

    anonymous Guest

    I don't get all the hate about Guru. I find that guy to be very honest and forthright about things. If you want to argue about his overall value over the years that's fine, but only because he's a department of one and has a very narrow focus of work. Anyone who thinks Guru is an idiot and doesn't know science will need to look in the mirror a little more.

     
  9. anonymous

    anonymous Guest

    An Indian VP of SPPISPPI bla new CEO and COO of corruption and accused them of creating a same exit strategy as what ex-CEO Rajesh Shrotriya did. It seems their is a plan to eat investors money like this in a sinful manner.

    New Chairman Stuart Krassner seems to be a part of this to bennefit from this too. Find & Read the 16th April Sec 8k Filing from SPPI. Below is a excerpt from it and it opens eyes of many:-

    http://investor.sppirx.com/financial-information/sec-filings

    "On April 10, 2018, Spectrum Pharmaceuticals, Inc. (the “Company”) entered into new employment agreements (each an “Employment Agreement,” and together, the “Employment Agreements”) with Joseph W. Turgeon, President and Chief Executive Officer, Kurt A. Gustafson, Executive Vice President and Chief Financial Officer, and Thomas J. Riga, Executive Vice President, Chief Operating Officer and Chief Commercial Officer (each an “Executive,” and
    together, the “Executives”), in each case effective as of April 10, 2018. The Employment Agreements supersede the Executives’ prior change of control
    severance agreements and each Employment Agreement has a term of five years. Pursuant to the Employment Agreements, Mr. Turgeon will be entitled to receive an annual base salary of $750,000 as compensation for his services. Mr. Turgeon will also be eligible to receive an annual cash bonus equal to 70% of his salary, based on the performance of the Company and Mr. Turgeon’s relativeto performance objectives or other metrics the board of directors of the Company (the “Board”) may deem appropriate. Messrs. Gustafson and Rigawl will be entitled to receive annual base salaries of $525,000 and $500,000, respectively. Each of Messrs. Gustafson and Riga will also be eligible to receive
    annual cash bonuses equal to 50% of their respective salaries, based on the performance of the Company and the respective Executives relative to
    performance objectives or other metrics the Board may deem appropriate. Each of Messrs. Turgeon and Riga will also be entitled to receive a relocation allowance not to exceed $200,000 in the event that he relocates to Southern California within the first two and one-half years of the term covered by his
    respective Employment Agreement.
    In the event of a termination other than following a Change of Control (as defined in the Employment Agreements), if any Executive is terminated by the Company for Cause (as defined in the Employment Agreements), or if any Executive terminates his employment without Good Reason (as defined in
    the Employment Agreements), such Executive will be entitled to any unpaid base salary and benefits accrued through the date of termination.
    In the event of a termination other than following a Change of Control, if any Executive is terminated by the Company without Cause, or if any Executive terminates his employment with Good Reason, such Executive will be entitled to receive any unpaid base salary and benefits accrued through the
    date of termination, as well as a lump sum payment equal to two years of base salary and two times the previous year’s bonus, as well as 18 months of
    Company-paid continued coverage for such Executive and his dependents under the Company’s existing health and benefit plans. Such Executive will also
    immediately vest in all options, restricted stock and other equity incentive compensation, and will vest in his performance-based awards pro rata based on thet arget award for such performance-based awards and the number of days he was employed by the Company during the applicable performance period,
    irrespective of actual performance.
    Within 12 months following a Change of Control, if any Executive is terminated by the Company without Cause, or if any Executive terminates his
    employment with Good Reason, such Executive will be entitled to receive any unpaid base salary and benefits accrued through the date of termination, asw ell as two years of base salary (to be paid monthly over a 24-month period following termination) and a lump sum payment equal to two times the previousyear’s bonus, as well as 18 months of Company-paid continued coverage for such Executive and his dependents under the Company’s existing health and
    benefit plans. Such Executive will also vest in all options, restricted stock and other equity incentive compensation immediately upon consummation of the
    Change of Control, and will vest in his performance-based awards pro rata based on the target award for such performance-based awards and the number of days he was employed by the Company before the Change of Control during the applicable performance period, irrespective of actual performance.."

    Well after reading all above all iIcan say is that these guys are professional thugs!
     
  10. anonymous

    anonymous Guest

    This is SOP with a change in exec. management, you moron.
     
  11. anonymous

    anonymous Guest

    Great fight between brown asian Indians Vs white American CEO. These morons are all corrupt and trying to eliminate each other. Investors made a huge mistake by appointing an academic guy like Stuart Krassner Chairman. He won't fire anyone for good. He is slave of ex-CEO Raj's pet Indians from India. Low ball conspirative company.
     
  12. anonymous

    anonymous Guest

    As per an Asian-Indian VP of SPPI, Tom & JT will lose this battle as he is bound to be fired soon. Till that happens all asians and Indians are quitely following these two to make them calm. All indians/Asians of SPP are corrupt and incapable yet. conspirative enough to have recently teamed up against Tom and JT and building a case to BODs against them to get them fired. It's funny...seems like watching that movie 'Dog eats Dog'. Crazy people...