Faruqi & Faruqi, LLP Launches An Investigation Against Cell Therapeutics, Inc. (CTIC) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors ofCell Therapeutics, Inc.
NEW YORK--(BUSINESS WIRE)-- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cell Therapeutics, Inc. ("Cell Therapeutics" or the "Company") (NasdaqCM: CTIC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the 2007 Equity Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on May 13, 2013, the Board of Directors recommends that Cell Therapeutics' shareholders vote to approve an amendment to increase the number of shares available for issuance under the 2007 Equity Plan by 12,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Cell Therapeutics common stock.
Request more information now by clicking here:www.faruqilaw.com/CTIC. There is no cost or obligation to you.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Cell Therapeutics and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CTIC or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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