Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of CytRx Corp. Investors & Encourages Inv...
July 25 2016 - 1:47PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that it
has filed a class action lawsuit in the United States District
Court for the Central District of California on behalf of investors
who purchased CytRx Corporation (“CytRx” or the “Company”)
(NASDAQ:CYTR) securities between November 18, 2014, and July 11,
2016, inclusive (the “Class Period”). CytRx investors have
sixty days from the date of this notice to file a lead
plaintiff motion.
Investors suffering losses on their CytRx investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to
shareholders@glancylaw.com.
The complaint filed in this lawsuit alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts
about the Company’s business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose: (1) that the clinical hold placed on the
Phase 3 trial of aldoxorubicin for STS would prevent sufficient
follow-up for patients involved in the study; (2) that, as a
result, nearly half of all patients would be censored (excluded)
from the progression free survival evaluation; (3) that, in
response, CytRx would likely conduct a second analysis; (4) that,
as such, the results of the trial could be materially affected
and/or approval of aldoxorubicin for STS could be delayed; and (5)
that, as a result of the foregoing, Defendants’ statements about
CytRx’s business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis.
If you purchased shares of CytRx during the Class Period you
have sixty days from the date of this notice to ask the
Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take
no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com, or visit our website at
http://glancylaw.com. If you inquire by email please include your
mailing address, telephone number and number of shares
purchased.
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/20160725006123/en/
Glancy Prongay and Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224https://www.glancylaw.comshareholders@glancylaw.com
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