EQUITY ALERT: The Rosen Law Firm Files Securities Fraud Class Action Against CytRx Corporation and Its Stock Promotion Firms -- CYTR

LOS ANGELES, March 15, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced today that it has filed a class action lawsuit on behalf of all purchasers of the common stock of CytRx Corporation (Nasdaq:CYTR) between November 22, 2013 and March 13, 2014, including purchasers in the Company's public offering completed on February 5, 2014, The lawsuit is seeking remedies under the federal securities laws on behalf of CYTR investors.

To join the CytRx class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Jonathan Horne, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the class action. The lawsuit is pending in the U.S. District Court for the Central District of California.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, CytRx, its CEO, and two stock promotion firms made misleading statements and failed to disclose that numerous articles touting CytRx stock issued by the stock promotion firms were paid stock promotions. According to the suit, when the market began to learn of the true facts through partial disclosures, the value of CytRx stock dropped damaging investors.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 13, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.

The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe.

CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Jonathan Horne, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com jhorne@rosenlegal.com pkim@rosenlegal.com www.rosenlegal.comSource: The Rosen Law Firm PA PC