Cell Therapeutics, Inc. (2010)

Class Period: Mar 25, 2008 to Mar 22, 2010

Lead Plaintiff Deadline: May 11, 2010 + Deadline passed

Summary of Case:

A securities class action has been filed against Cell Therapeutics, Inc. (2010) (CTIC) ("The Company") on behalf of all securities purchasers from May 5, 2009 through February 8, 2010, inclusive ("Class Period"), in the United States District Court for the Western District of Washington.

The complaint alleges that throughout the Class Period, defendants failed to disclose material adverse facts about the Company's business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (a) that the Special Protocol Assessment ("SPA") with the United States Food and Drug Administration ("FDA") for pixantrone was invalidated in March 2008; (b) that the Company's pixantrone study enrolled a large number of patients who did not suffer from aggressive non-Hodgkin's lymphoma; (c) that the Company's pixantrone drug was cardiotoxic; and (d) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about pixantrone and its prospects.

On February 8, 2010, the FDA posted its assessment of pixantrone in advance of its February 10, 2010 advisory meeting. With regard to the regulatory history of pixantrone, the FDA Briefing Document stated, among other things, 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 purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.