Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $20 Million Settlement in the CTI BioPharma Corp (NASDAQ:CTIC) Investor Lawsuit

Via: ReleaseWire

Updated 11:45 AM CST, Tue, January 30,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of CTI BioPharma Corp (NASDAQ:CTIC) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on February 20, 2018 and NASDAQ:CTIC investors should contact the Shareholders Foundation

San Diego, CA -- (SBWIRE) -- 01/30/2018 -- A deadline is coming up on February 20, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of CTI BioPharma Corp (NASDAQ: CTIC) between March 9, 2015 and February 9, 2016.

Investors who purchased a significant amount of shares of CTI BioPharma Corp (NASDAQ: CTIC) between March 9, 2015 and February 9, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the CTI BioPharma Corp (NASDAQ: CTIC) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/cti-biopharma-corp-nasdaq-ctic-investor-securities-class-action-lawsuit-02102016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is February 20, 2018. The class action administrator for this case is Garden City Group.

The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by CTI BioPharma Corp in connection with certain allegedly false and misleading statements made in connection with the Company's public offering on or about September 24, 2015 and between March 4, 2014 and February 9, 2016. According to the complaint the plaintiff alleges on behalf of investors who purchased or otherwise acquired CTI BioPharma Corp (NASDAQ: CTIC) securities pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's public offering on or about September 24, 2015 (the "Offering"); and/or (2) between March 4, 2014 and February 9, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that the detrimental effect on survival of pacritinib, that the Company's clinical trials demonstrated deaths associated with pacritinib usage, that the Company's new drug application for pacritinib would likely be withdrawn, that, as such, the Company's future revenues were impaired, that the company lacked adequate internal controls, and that, as a result of the foregoing, the Company's financial statements and defendants' statements about CTI Biopharma's business, operations, and prospects, were materially false and misleading at all relevant times.

Those who purchased shares of CTI BioPharma Corp (NASDAQ: CTIC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-20-million-settlement-in-the-cti-biopharma-corp-nasdaqctic-investor-lawsuit-924005.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com