DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against CTI BioPharma Corp. (“CTI”) (NASDAQ: CTIC) and several officers and directors for acts taken during the period of March 4, 2014 and February 9, 2016 (the “Class Period”).
Shareholders who suffered a loss during the class period have until April 11, 2016 to seek appointment as lead plaintiff. If you lost more than $100,000 from shares purchased during the class period and wish to take a more proactive role in the litigation, you are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via email at email@example.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants made false and/or misleading statements and/or failed to disclose that: (1) pacritinib was attributed as a potential cause in the death and injuries of several patients; (2) CTI’s clinical trials showed the dangers of pacritinib usage; (3) CTI’s new drug application for pacritinib would likely be withdrawn; (4) CTI’s future revenues were impaired; (5) CTI lacked adequate internal controls; and (6) as a result of the foregoing, CTI’s financial statements and Defendants’ statements about CTI’s business, operations, and prospects, were materially false and misleading at all relevant times. According to the complaint, CTI stock dropped significantly when the truth was revealed to the market.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.