NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating potential securities fraud claims against CytRx Corporation (NASDAQ: CYTR) resulting from allegations that CytRx may have paid outsiders to inflate its stock price by publishing misleading articles while CytRx sold $86 million in new equity to investors.
On March 13, 2013 an article appeared on Seekingalpha.com asserting that the Company hired The DreamTeam Group (“DT”) to tout its stock. DT itself then published a variety of articles, many if not all of which misleadingly omitted to disclose that DT was paid by the Company to promote it. Several of the articles were also falsely attributed to various third parties.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of CytRx investors. If you purchased CytRx stock before March 13, 2014, please visit the website at http://rosenlegal.com for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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