NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that it has been retained by an investor to pursue claims against CTI BioPharma Corp. ("CTI" or the "Company") (Nasdaq:CTIC) on behalf of all persons or entities who acquired CTI securities during the period from March 4, 2014 through February 9, 2016 (the "Class Period"). Another investor recently filed a class action suit asserting such claims. Pursuant to applicable law, investors have until April 11, 2016 to file a motion to be appointed as lead plaintiff in that lawsuit.
The lawsuit alleges that throughout the Class Period the Company made false and misleading statements and/or failed to disclose adverse information about its new drug application for pacritinib.
On February 8, 2016, the Company issued a press release announcing that the FDA had placed a partial clinical hold on pacritinib due to fatal and life-threatening safety issues in pacritinib-treated patients. On this news, the stock price fell from $1.12 to close at $0.44 (a decline of $0.68). On February 9, 2016, the Company announced that the FDA had placed a full clinical hold on pacritinib. On this news, the stock price fell further to close at $0.30 (a decline of $0.14 and a total decline of $0.82).
If you acquired CTI securities during the Class Period and you are interested in learning more about this matter and any rights you might have with respect to these claims, contact Rona Li at firstname.lastname@example.org, or by telephone at (212) 371-6600. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm's achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against CTI BioPharma Corp. can be found at Kirby McInerney LLP's website: http://www.kmllp.com.