NEW YORK, March 07, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of CTI BioPharma Corp. securities (NASDAQ:CTIC) pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with CTI BioPharma’s September 24, 2015 Public Offering (the “offering”) and/or between March 4, 2014 through February 9, 2016, inclusive (the “Class Period”). The lawsuit seeks to recover damages for CTI BioPharma investors under the federal securities laws.
To join the CTI BioPharma class action, go to the firm’s website at http://rosenlegal.com/cases-837.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, the documents filed in connection with the offering contained materially false and misleading statements and omissions, including: (1) the detrimental effect on survival of pacritinib; (2) CTI BioPharma’s clinical trials demonstrated deaths associated with pacritinib usage; (3) CTI BioPharma’s new drug application for pacritinib would likely be withdrawn; (4) as such, CTI BioPharma’s future revenues were impaired; (5) CTI BioPharma lacked adequate internal controls; and (6) as a result, CTI BioPharma’s financial statements and Defendants’ statements about CTI Biopharma’s business, operations, and prospects, were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 11, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-837.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.