SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cellceutix Corporation – CTIX
NEW YORK, NY / CRWEPRESSRELEASE / September 16, 2015 /Pomerantz LLP is investigating claims on behalf of investors of Cellceutix Corporation (“Cellceutix” or the “Company”) (OTCMKTS:CTIX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Cellceutix and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 6, 2015, SeekingAlpha.com published an article describing Cellceutix as an overvalued shell corporation run by a management team with a track record of self-enrichment, value destruction, and making false statements regarding their background and credentials. The article also asserted that the company’s science is demonstrably unviable in that the antibiotic Brilacidin and anti-cancer drug Kevetrin are ineffective.
On this news, the company’s stock fell $0.34, or 16.5%, to close at $1.71 on August 6, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP