Securities Class Action Lawsuit Filed Against Cell Therapeutics, Inc. (CTIC)

Investors File Securities Class Action Lawsuit Against Cell Therapeutics, Inc. (CTIC) Over Pixantrone Disclosures

A securities class action lawsuit was filed against Cell Therapeutics, Inc. (CTIC) in the United States District Court for the Western District of Washington on behalf of purchasers of Cell Therapeutics, Inc. (CTIC) stock during the period between May 5, 2009 and February 8, 2010 (the class period), for violations of the federal securities laws, according to a securities class action lawsuit filing news report.

The Cell Therapeutics, Inc. (CTIC) securities class action lawsuit complaint reportedly alleges that defendants violated the Securities Exchange Act by, among other things, failing to disclose that a Special Protocol Assessment (“SPA”) with the United States Food and Drug Administration (“FDA”) for pixantrone was invalidated in March 2008, that Cell Therapeutics, Inc.’s pixantrone study enrolled a large number of patients who did not suffer from aggressive non-Hodgkin’s lymphoma, that Cell Therapeutics, Inc.’s pixantrone drug was cardiotoxic and that Cell Therapeutics, Inc. lacked a reasonable basis for their positive statements about pixantrone.

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