Cohen Milstein Sellers & Toll PLLC Announces Investigation Of Radient Pharmaceuticals Corp.

Cohen Milstein Sellers & Toll PLLC, is conducting an investigation to determine whether Radient Pharmaceuticals Corp. (“Radient”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit has been filed in the U.S. District Court for the Central District of California by another law firm on behalf of all purchasers of the common stock of Radient (NYSE: RPC) between January 18, 2011 and March 4, 2011, inclusive (the “Class Period”). The Complaint alleges that Radient and certain of its officers and directors (“Defendants”) made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 regarding the involvement of the Mayo Clinic in a clinical trial of the company’s Onko Sure® product, a diagnostic cancer test. Radient issued a press release on January 18, 2011, to report: “ progress on its clinical study with Mayo Clinic ("Mayo") for the validation of the Company's US FDA-cleared Onko-Sure® in vitro diagnostic (IVD) cancer test as a useful tool in the detection of colorectal cancer in all stages of CRC...RPC anticipates it will complete the clinical trial with Mayo in the first quarter of 2011." In an article issued by TheStreet.com on March 7, 2011, the claim that the Mayo Clinic was conducting a clinical trial with Radient was refuted and the Mayo Clinic was quoted as stating: " Mayo is not engaged in clinical studies with Radient and does not have a partnership agreement with Radient." The complaint alleges that as a direct result of Defendants’ false statements, Radient’s common stock traded at artificially inflated prices during the Class Period and dropped substantially after the truth was revealed.

Cohen Milstein encourages purchasers of Radient stock or former employees with information concerning this matter to contact the firm.

If you are a Radient shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at [phone] or [phone], or email him at [e-mail]. If you purchased the common stock of Radient between January 18, 2011 and March 4, 2011, and wish to serve as lead plaintiff, you must move the Court no later than May 10, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, and Chicago, and is active in major litigation pending in federal and state courts throughout the nation.