| Company: | Cell Therapeutics, Inc |
| Ticker Symbol: | CTIC |
| Class Period: | May-5-09 to Feb-8-10 |
| Date Filed: | Mar-16-10 |
| Lead Plaintiff Deadline: | May-15-10 |
| Court: | Western District of Washington |
| Allegations: | |
The Complaint charges that Cell Therapeutics and certain of its executives violated federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following materially adverse facts: (i) that the Special Protocol Assessment ("SPA") with the United States Food and Drug Administration ("FDA") for pixantrone, a phase III trial product for non-Hodgkin's lymphoma, was invalidated in March 2008; (ii) that the Company's pixantrone study enrolled a large number of patients who did not suffer from aggressive non-Hodgkin's lymphoma; (iii) that the Company's pixantrone drug was cardiotoxic; and (iv) that, as a result, defendants lacked a reasonable basis for their positive statements about pixantrone.
On February 8, 2010, the FDA posted a Briefing Document concerning the regulatory history of pixantrone, which stated that the Company's SPA was invalidated in March 2008 and that the Company's pixantrone study results were not meeting the FDA's standards for approval.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
