A lawsuit was filed on behalf of investors in Cellceutix Corp (OTCMKTS:CTIX) shares over alleged securities laws violations and OTCMKTS:CTIX investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/30/2015 -- A shareholder in shares of Cellceutix Corp (OTCMKTS:CTIX) filed a lawsuit over alleged Securities Laws violations by Cellceutix Corp in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Cellceutix Corp (OTCMKTS:CTIX) have certain options and for certain investors are short and strict deadlines running. Deadline: November 10, 2015. OTCMKTS:CTIX investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Cellceutix Corp (OTCMKTS:CTIX) common shares between May 10, 2013 through August 6, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 10, 2013 through August 6, 2015, issued materially false and misleading statements to investors and/or failed to disclose that Cellceutix Corp's antibiotic drug candidate Brilacidin is ineffective, that Cellceutix Corp's anti-cancer drug candidate Kevetrin does not activate p-53 gene, which suppresses tumors, that Cellceutix Corp's co-founder and Director, Krishna Menon, did not earn his PhD in Pharmacology from Harvard University, and that Cellceutix Corp's public statements were materially false and misleading at all relevant times.
On August 6, 2015, an article was published revealing that Cellceutix Corp (OTCMKTS:CTIX) misrepresented the efficacy of its drug candidates Brilacidin, Kevetrin, and Prurisol.
Shares of Cellceutix Corp OTCMKTS:CTIX) declined on August 7, 2015, to as low as $1.32 per share.
On September 29, 2015, OTCMKTS:CTIX shares closed at $1.42 per share.
Those who purchased shares of Cellceutix Corp (OTCMKTS:CTIX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego