ATLANTA, April 20, 2010 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Western District of Washington on behalf of purchasers of Cell Therapeutics, Inc. ("Cell Therapeutics" or the "Company") (Nasdaq:CTIC) common stock who purchased shares between May 5, 2009 and February 8, 2010 (the "Class Period"). The lawsuit alleges, among other things, that the Company failed to adequately disclose that the Special Protocol Assessment with the Food and Drug Administration for pixantrone was invalidated in March 2009.
If you purchased shares of Cell Therapeutics common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than May 11, 2010. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Cell Therapeutics investor with losses exceeding $50,000 from investing in Cell Therapeutics common stock and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, 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.