Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced a lawsuit against CytRx Corporation (“CytRx” or the “Company”) for alleged violations of the federal securities laws and other violations.  A copy of the complaint can be found here.

CytRx (NASDAQ: CYTR) is a pharmaceutical research and development company headquartered in Los Angeles, California.  The investigation focuses on allegations that CytRx hired a promoter, The DreamTeam Group, to publish favorable articles about CytRx stock without disclosing to investors that the Company had paid The DreamTeam Group to promote the stock.  An article published on March 13, 2014 on SeekingAlpha.com alleges that the articles were written under multiple aliases and were coordinated with the release of news from the Company in order to amplify the effect of the news on the Company’s stock price.

What You Can Do

If you purchased CytRx shares prior to this disclosure on March 13, 2014, you may have legal claims under the securities laws.  If you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at ambere@zhlaw.com. There is no cost to you.