LOS ANGELES -- (BUSINESS WIRE) -- Glancy Binkow & Goldberg LLP reminds investors of CytRx Corporation (“CytRx” or the “Company”) (NASDAQ:CYTR) that all purchasers of CytRx securities between November 20, 2013 and March 13, 2014, inclusive (the “Class Period”), have until May 13, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
CytRx is a biopharmaceutical research and development company specializing in oncology. The Company is currently focused on the clinical development of its product candidate aldoxorubicin – a modified version of the widely used chemotherapeutic agent doxorubicin. The Complaint alleges that throughout the Class Period defendants misrepresented or failed to disclose that the Company hired a promoter – The DreamTeam Group – to tout CytRx stock without disclosing that it was paid by the Company to promote the stock. The Complaint further alleges that the promotional articles were written under multiple aliases and defendants coordinated the release of news and data from the Company to interpret and amplify the effect of the news.
If you are a member of the Class described above, you may move the Court no later than May 13, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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