SOURCE: Brower Piven, A Professional Corporation

September 14, 2010 22:28 ET

Brower Piven Updates Investors Who Acquired Shares of Cell Therapeutics, Inc. Common Stock and Warrants to Purchase Common Stock Through a Public Offering That Commenced on July 22, 2009 of Pending Claims

STEVENSON, MD--(Marketwire - September 14, 2010) -  Brower Piven, A Professional Corporation ("Brower Piven") provides the following update to purchasers of securities of Cell Therapeutics, Inc. ("Cell Therapeutics") (NASDAQ: CTIC) during the period between May 5, 2009 and March 19, 2010, inclusive (the "Class Period"). The Court on August 2, 2010, appointed a Lead Plaintiff and Lead Counsel in the class action lawsuit pending in the United States District Court for the Western District of Washington brought under the federal securities laws. The date to file a consolidated amended complaint is September 27, 2010.

Among the claims in the action as consolidated by the Court are claims for alleged misstatements and omissions brought under the Securities Act of 1933 on behalf of purchasers of Cell Therapeutic common stock and warrants for the purchase of common stock sold to the public pursuant to a Registration Statement and Prospectus that commenced on or about July 22, 2009 and closed on or about July 28, 2009 ("Offering"). If you purchased Cell Therapeutics' stock on the Offering at the Offering price of $1.30 per share of common stock and one warrant pursuant to the Cell Therapeutics Registration Statement and Prospectus and wish to learn more about this litigation and your rights as a class member, contact Brower Piven by email at, by calling 410/415-6701, at, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.

Contact Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    Email Contact