Holzer & Holzer, LLC announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors who purchased CytRx Corporation (“CytRx” or the “Company”) (NASDAQ: CYTR) common stock between November 22, 2013 and March 13, 2014. The complaint alleges that during the relevant time period CytRx violated the U.S. securities laws by failing to adequately disclose that certain articles regarding the Company were actually paid promotional materials issued by the stock promoting company The DreamTeam Group. The lawsuit alleges CytRx’s failure to disclose the true nature of the articles caused its stock to trade at artificially inflated prices. On March 13, 2014, Seeking Alpha published an article revealing The DreamTeam Group’s alleged involvement in promoting CytRx’s stock, and CytRx’s stock price fell dramatically.
If you purchased CytRx securities between November 22, 2013 and March 13, 2014 and are interested in your legal rights, you are encouraged to contact Marshall P. Dees, Esq. via email at firstname.lastname@example.org, or via toll-free telephone at (888) 508-6832. There is a deadline of May 13, 2014 for interested investors to ask the court to be appointed as lead plaintiff for the case.
Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.