Case Page

 

Case Status:    SETTLED
On or around 01/20/2016 (Settlement preliminarily approval)

Filing Date: March 14, 2014

According to the law firm press release, CytRx, its CEO, and two stock promotion firms made misleading statements and failed to disclose that numerous articles touting CytRx stock issued by the stock promotion firms were paid stock promotions. According to the suit, when the market began to learn of the true facts through partial disclosures, the value of CytRx stock dropped damaging investors.

On June 13, 2014, the Court issued an Order consolidating related cases, appointing lead plaintiff, and approving lead counsel. Lead plaintiff filed a consolidated complaint on October 1.

On July 13, 2015, the Court issued an Order granting in part and denying in part Defendants' motions to dismiss.

On December 8, 2015, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on January 20, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CYTR
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 14-CV-01956
JUDGE: Hon. George H. King
DATE FILED: 03/14/2014
CLASS PERIOD START: 11/22/2013
CLASS PERIOD END: 03/13/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A.
    333 South Grand Avenue, 25th Floor, The Rosen Law Firm, P.A., CA 90071
    213.785.2610 213.226-4684 ·
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 14-CV-01956
JUDGE: Hon. George H. King
DATE FILED: 08/07/2015
CLASS PERIOD START: 11/20/2013
CLASS PERIOD END: 03/13/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Kahn Swick & Foti, LLC (Madisonville)
    206 Covington Street, Kahn Swick & Foti, LLC (Madisonville), LA 70447
    (504) 455-1400 (504) 455-1498 ·
  3. Wolf Haldenstein Adler Freeman & Herz LLP (San Diego)
    Symphony Towers; 750 B Street, Suite 2770, Wolf Haldenstein Adler Freeman & Herz LLP (San Diego), CA 92101
    619.239.4599 19.239.4599 ·
No Document Title Filing Date