NEW YORK, July 26, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of CytRx Corporation (“CytRx” or the “Company”) (NASDAQ: CYTR ) between November 18, 2014 and July 11, 2016 .
You are hereby notified that a securities class action has commenced in the USDC for the Central District of California. If you purchased or otherwise acquired CytRx securities between November 18, 2014 and July 11, 2016, your rights may be affected by this action. To get more information go to : http://www.zlk.com/pslra/cytrx-corporation .
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts including: (1) that the clinical hold placed on the Phase 3 trial of aldoxorubicin for soft tissue sarcomas (“STSs”) would prevent sufficient follow-up for patients involved in the study; (2) that, as a result, nearly half of all patients would be excluded from the data since the study was disturbed by a partial clinical hold; (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 suffered a loss in CytRx you have until September 23, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/cytrx-corporation .
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
