Kendall Law Group announced today that it plans to join a lawsuit on behalf of shareholders of Cell Therapeutics, Inc. (NASDAQ:CTIC) alleging securities violations by Cell Therapeutics and certain of its officers for violations of the federal securities laws in connection to their public statements affecting stock purchased between May 5, 2009 and February 8, 2010. If you wish to learn more about your rights as a shareholder or have information concerning this action, you are encouraged to contact attorney Hamilton Lindley at 877-744-3728 or firstname.lastname@example.org. Any shareholder who purchased CTIC stock during this time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by May 11, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff. The complaint alleges that Cell Therapeutics and certain officers and directors made false and misleading statements in connection with pixantrone, a phase III trial product for non-Hodgkins lymphoma. The Special Protocol Assessment with the FDA for pixantrone was invalidated in March 2008. However, it was not until the FDA posted an assessment on February 10, 2010 that the public was made aware of this situation. The FDA also indicated that the study results were not meeting the FDA’s standards for approval. According to the FDA, the pixantrone study included a large number of patients who did not suffer from aggressive non-Hodgkins lymphoma. Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm led by former federal judge and former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders who purchased CTIC common stock during the relevant period may have a claim against the company and are urged to contact attorney Hamilton Lindley for more information.
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