On or around 06/08/2016 (Date of order of final judgment)
Filing Date: September 11, 2015
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Cellceutix’s antibiotic drug candidate Brilacidin is ineffective; (2) Cellceutix’s anti-cancer drug candidate Kevetrin does not activate p-53 gene, which suppresses tumors; (3) Cellceutix’s co-founder and Director did not earn his PhD in Pharmacology from Harvard University; and (4) as a result, Cellceutix’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.
On December 18, 2015, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed an amended complaint on January 11, 2016.
On June 8, 2016, the Court issued an Order granting Defendants' motion to dismiss with prejudice.
Company & Securities Information
Defendant: Cellceutix Corporation
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: CTIX
Company Market: Pink Sheets
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.
First Identified Complaint
Nicole O'Connell, et al. v. Cellceutix Corporation, et al.