This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lieff Cabraser Announces Class Action Litigation Against CytRx Corporation - CYTR

The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of those who purchased the securities of CytRx Corporation (“CytRx” or the “Company”) (Nasdaq:CYTR), between November 20, 2013 and March 13, 2014, inclusive (the “Class Period”), including purchasers in the Company’s secondary public offering completed on or about February 5, 2014.

If you purchased the securities of CytRx during the Class Period, you may move the Court for appointment as lead plaintiff by no later than May 14, 2014. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

CytRx investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.

Background on the CytRx Securities Class Litigation

The actions charge CytRx, its Chief Executive Officer, and stock promotion firms the DreamTeamGroup (“The DreamTeam”) and MissionIR with violations of the Securities and Exchange Act of 1934. CytRx, headquartered in Los Angeles, California, is a biopharmaceutical research and development company specializing in oncology.

The actions allege that during the Class Period, defendants made misleading statements and failed to disclose that numerous articles issued by The DreamTeam and MissionIR touting CytRx stock were in fact paid stock promotions under the control of CytRx.

On February 12, 2014, an article published on reported that Galena BioPharma, Inc. (“Galena”) had paid The DreamTeam and MissionIR to promote its stock without properly disclosing its paid relationship and that CytRx had also retained DreamTeam. On this news, the price of CytRx stock fell $0.54, or 8.18%, from its closing price of $6.60 per share on February 11, 2014, to close at $6.04 per share on February 12, 2014.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs