San Diego, CA -- (SBWIRE) -- 06/08/2016 -- A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of CytRx Corporation (NASDAQ:CYTR) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 8, 2016 and NASDAQ:CYTR investors should contact the Shareholders Foundation.

A deadline is coming up on June 8, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of CytRx Corporation (NASDAQ:CYTR) between November 20, 2013 and March 13, 2014.

Investors who purchased a significant amount of shares of CytRx Corporation (NASDAQ:CYTR) between November 20, 2013 and March 13, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the CytRx Corporation (NASDAQ:CYTR) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/cytrx-corporation-nasdaq-cytr-investor-securities-class-action-lawsuit-03142014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 8, 2016. The class action administrator for this case is Gilardi & Co LLC.

The lawsuit was originally filed in the U.S. District Court for the Central District of California against CytRx Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 22, 2013 and March 13, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of CytRx Corporation (NASDAQ: CYTR) November 22, 2013 and March 13, 2014 including purchasers in CytRx Corporation's public offering completed on February 5, 2014, that CytRx Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that CytRx Corporation, its CEO, and two stock promotion firms made misleading statements and failed to disclose that numerous articles touting CytRx Corporation stock issued by the stock promotion firms were paid stock promotions and when the market began to learn of the true facts through partial disclosures, the value of CytRx Corporation stock dropped damaging investors.

Those who purchased shares of CytRx Corporation (NASDAQ:CYTR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com