is a boutique law firm handling complex and class action litigation, including shareholder derivative litigation, securities class actions, data breach and consumer class actions.

Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs.  Please review any of the case listings  below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company.  Once completed, please return to our office by email to rkh@federmanlaw.com or fax to (405) 239-2112. 

Current Cases

CTI BioPharma Corp. [NASDAQ: CTIC]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against CTI BioPharma Corp.

 

Oklahoma City, OK (February 16, 2016) – On February 10, 2016, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against CTI BioPharma Corp. (NASDAQ: CTIC).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 4, 2014 through February 9, 2016.  More specifically, this litigation was filed because throughout the Class Period, the Company made false and/or misleading statements and/or failed to disclose: (1) the detrimental effect on survival of pacritinib; (2) that the Company’s clinical trials demonstrated deaths associated with pacritinib usage; (3) that the Company’s new drug application for pacritinib would likely be withdrawn; (4) that, as such, the Company’s future revenues were impaired; (5) that the company lacked adequate internal controls; and (6) that, as a result of the foregoing, the Company’s financial statements and Defendants’ statements about CTI Biopharma’s business, operations, and prospects, were materially false and misleading at all relevant times.

On February 9, 2016, the Company issued a press release announcing that the FDA had placed a full clinical hold on pacritinib, and required that all patients currently on pacritinib must discontinue pacritinib immediately. The Company further reported that it had withdrawn the new drug application for pacritinib. On this news the Company’s shares fell $0.20 per share, on February 10, 2016, on unusually heavy volume of over 15 million shares.

Plaintiff seeks to recover damages on behalf of all CTI BioPharma Corp. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, April 11, 2016 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification.  Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN:  Robin.

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