Zeldes & Haeggquist, LLP Continues Investigation of CytRx Corporation

Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible violations of the federal securities laws and other violations of law by certain officers and directors at CytRx Corporation (“CytRx” or the “Company”) (NASDAQ: CYTR).

CytRx is a pharmaceutical research and development company headquartered in Los Angeles, California. The investigation focuses on allegations that CytRx hired a promoter, The DreamTeam Group, to publish favorable articles about CytRx stock without disclosing to investors that the Company had paid The DreamTeam Group to promote the stock. This promotion caused the price of CytRx stock to become inflated, and while the price was inflated, the Company issued 11.5 million shares of stock in a Secondary Public Offering on January 31, 2014. An article published on March 13, 2014 on SeekingAlpha.com alleges that the articles were written under multiple aliases and were coordinated with the release of news from the Company in order to amplify the effect of the news on the Company’s stock price.

On August 21, 2014, Chief Judge of the Federal Court for the Central District of California, the Honorable George H. King, remanded a class action suit brought against CytRx and its senior officers on behalf of investors who purchased shares in the Company’s January 31, 2014 Secondary Offering. The case is now proceeding in California Superior Court for the County of Los Angeles.

What You Can Do

If you purchased CytRx shares in the Company’s January 31, 2014 Secondary Offering, you may have legal claims under the securities laws. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at ambere@zhlaw.com. There is no cost to you.

About Zeldes Haeggquist & Eck, LLP

Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information about the firm.