SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky

April 04, 2016 10:47 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of CTI BioPharma Corp. of Class Action Lawsuit and a Lead Plaintiff Deadline of April 11, 2016 -- CTIC

NEW YORK, NY--(Marketwired - April 04, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of CTI BioPharma Corp. ("CTI BioPharma") (NASDAQ: CTIC)pursuant or traceable to the Registration Statement and Prospectus issued in connection with the September 24, 2015 Public Offering and/or between March 4, 2014 and February 9, 2016.

You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information go to: http://zlk.9nl.com/cti-biopharma.

The complaint alleges that the documents filed in connection with the offering contained materially false and misleading statements and/or omissions, including: (1) the detrimental effect on survival of experimental treatment pacritinib; (2) that the Company's clinical trials demonstrated deaths associated with pacritinib usage; (3) that the Company's new drug application for pacritinib would likely be withdrawn; (4) that, as such, the Company's future revenues were impaired; and (5) that the company lacked adequate internal controls.

On February 8, 2016, it was revealed that the FDA had placed a partial hold on clinical studies of pacritinib, citing "identified… fatal and life-threatening safety issues in pacritinib-treated patients…"

If you suffered a loss in CTI BioPharma you have until April 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/cti-biopharma.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT: 
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004 
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com