EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against CytRx Corporation - CYTR

NEW YORK, Aug. 31, 2016 -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of CytRx Corporation securities (NASDAQ:CYTR) from November 18, 2014 through July 11, 2016, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for CytRx investors under the federal securities laws.

To join the CytRx class action, go to the firm’s website at http://rosenlegal.com/cases-925.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email [email protected] or [email protected] for more information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) 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) nearly half of all patients would be censored (excluded) from the progression free survival evaluation; (3) CytRx would likely have to conduct a second analysis; (4) the results of the trial could be materially affected and/or approval of aldoxorubicin for STS could be delayed; and (5) as a result, CytRx’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-925.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information:
      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      Kevin Chan, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 34th Floor
      New York, NY  10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com