WELCOME TO THE CTI BIOPHARMA CORP. SECURITIES LITIGATION WEBSITE
Notice: Update on the Distribution of Net Settlement Funds.
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date:
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator who contact information is listed here below:
In re CTI BioPharma Corp. Securities Litigation
P.O. Box 9349
Dublin, OH 43017-4249
In re CTI BioPharma Corp. Securities Litigation, United States District Court for the Western District of Washington at Seattle, Case No. 2:16-cv-00216-RSL.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Fairness Hearing; and
The Court-appointed Lead Plaintiff, DAFNA LifeScience, LP and DAFNA LifeScience Select LP, on behalf of itself and the other members of the Settlement Class (defined below), has reached a settlement of this Action with CTI BioPharma Corp. (“CTI”) and the other defendants in the Action for $20,000,000 in cash that resolves all claims in the Action (the “Settlement”).
Following a hearing on February 1, 2018, the Court entered an Order and Final Judgment approving the Settlement as fair, reasonable and adequate, entered an order approving the Plan of Allocation for the proceeds of the Settlement, and entered an order awarding attorneys’ fees and reimbursement of litigation expenses to Plaintiffs’ Counsel.
The Settlement Class consists of:
all persons or entities, who during the period from March 9, 2015 through February 9, 2016, inclusive (the “Class Period”), purchased or otherwise acquired any shares of CTI common stock, CTI Series N-1 Preferred Stock, or CTI Series N-2 Preferred Stock, other than shares of such securities that traded on an exchange outside the United States, and were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class by definition (see, paragraph 22 of the Notice) or who requested exclusion pursuant to the instructions set forth in the Notice.
Please read the Notice to fully understand your rights.
The claims filing deadline passed on February 20, 2018.
On December 31, 2018, the initial distribution occurred, and payments were made to Court approved Class Members.
On January 24, 2023, the second distribution commenced, and payments were made to eligible Court approved Class Members who cashed their initial distribution payments.