San Diego, CA -- (SBWIRE) -- 01/29/2013 -- An investigation on behalf of current long term investors in shares of CytRx Corporation (NASDAQ:CYTR) was announced concerning whether certain officers and directors of CytRx Corporation (breached their fiduciary duties by paying certain top officials at CytRx Corporation excessive compensation.
Investors who are current long-term stockholders of shares of CytRx Corporation (NASDAQ:CYTR), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain directors and officers of CytRx Corporation harmed the company by agreeing to pay certain of CytRx’s senior officers and executives excessive compensation.
CytRx Corporation (NASDAQ:CYTR) reported that its Net Income of $0.41million for 2010 turned into a Net Loss of $14.42 million in 2011.
Shares of CytRx Corporation (NASDAQ:CYTR) declined from as high as $5.43 per share in July 2012 to as low as $1.63 per share in November 2012.
On Jan. 24, 2013, NASDAQ:CYTR shares closed at $2.13 per share, which is less than its current 52 week High.
Those who are current long-term stockholders of CytRx Corporation (NASDAQ:CYTR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego