The Shuman Law Firm Investigates CytRx Corporation

The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of CytRx Corp. (“CytRx” or the “Company”) (Nasdaq: CYTR). CytRx is a California-based biopharmaceutical company specializing in oncology.

The Firm’s investigation relates to allegations raised in a Seeking Alpha exposé which suggested that CytRx misrepresented and/or failed to disclose that: (1) the Company hired a promoter – The DreamTeam Group – to boost CytRx’s share price; (2) the promoter posted misleading articles on CytRx’s behalf without properly disclosing its paid marketing relationship; and (3) these articles boosted the price of CYTR shares while the Company issued $86 million in new equity. Once this information was made public, the price of CytRx shares fell over 12% from $4.78 to $4.17 in response.

If you currently own CytRx common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll-free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or email Mr. Glenn at rusty@shumanlawfirm.com.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.