|[April 03, 2014]
The Shuman Law Firm Investigates CytRx Corporation
BOULDER, Colo. --(Business Wire)--
Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of CytRx Corp. ("CytRx" or the
"Company") (Nasdaq: CYTR).
CytRx is a California-based biopharmaceutical company specializing in
The Firm's investigation relates to allegations raised in a Seeking
Alpha exposé which suggested that CytRx misrepresented
and/or failed to disclose that: (1) the Company hired a promoter - The
DreamTeam Group - to boost CytRx's share price; (2) the promoter posted
misleading articles on CytRx's behalf without properly disclosing its
paid marketing relationship; and (3) these articles boosted the price of
CYTR shares while the Company issued $86 million in new equity. Once
this information was made public, the price of CytRx shares fell over
12% from $4.78 to $4.17 in response.
If you currently own CytRx common stock and are interested in discussing
your rights, or have information relating to this investigation, please
contact Kip B. Shuman or Rusty E. Glenn toll-free at (866) 974-8626 or
email Mr. Shuman at firstname.lastname@example.org
or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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