SHAREHOLDER NOTICE: Lundin Law PC Announces Securities Class Action Lawsuit against CytRx Corp. & Encourages Investors with L...
August 17 2016 - 12:41AM
Business Wire
Lundin Law PC (the “Firm”) announces that a class action lawsuit
was filed against CytRx Corporation ("CytRx" or the "Company")
(Nasdaq: CYTR) concerning possible violations of federal securities
laws between November 18, 2014 and June 11, 2016 inclusive (the
“Class Period”). Investors who purchased or otherwise acquired
shares during the Class Period should contact the Firm in advance
of the September 23, 2016 lead plaintiff motion
deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class
is certified, you are not considered represented by an attorney.
You may also choose to do nothing and be an absent class
member.
The complaint alleges that CytRx made materially false and
misleading statements and/or failed to disclose material facts,
specifically: that the clinical hold placed on the Phase 3 trial of
aldoxorubicin for soft tissue sarcomas would prevent enough
follow-up for patients involved in the study; that nearly half of
all patients would be excluded from the data since the study was
disturbed by a partial clinical hold; that the Company would likely
conduct a second analysis as a result; and that the results of the
trial could be materially affected and/or approval of aldoxorubicin
for soft tissue sarcomas could be delayed. On July 11, 2016 the
Company issued a press release revealing that the Phase 3 clinical
trial of aldoxorubicin did not show any improvement from other
commonly used cancer drugs and that nearly half of the patients in
the Phase 3 trial were excluded from the data since the study was
disturbed by a partial clinical hold on November 2014. When this
news was disclosed, shares of CytRx fell in value, causing
investors harm.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160816006367/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/
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