SOURCE: Federman & Sherwood

August 01, 2016 16:25 ET

Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against CytRx Corporation

OKLAHOMA CITY, OK--(Marketwired - Aug 1, 2016) - On July 25, 2016, a class action lawsuit was filed in the United States District Court for the Central District of California against CytRx Corporation (NASDAQ: CYTR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is November 18, 2014 through July 11, 2016.

Plaintiff seeks to recover damages on behalf of all CytRx Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Friday, September 23, 2016 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:

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