Cell Therapeutics Sued Over 'False' New Drug Filings

Law360, New York (March 22, 2010, 3:59 PM EDT) -- Biopharmaceutical company Cell Therapeutics Inc. and its executives have been hit with a putative class action accusing the drugmaker of misleading investors about testing and U.S. Food and Drug Administration fast-track approval for a new treatment product for aggressive non-Hodgkin's lymphoma.

The suit, lodged Friday in the U.S. District Court for the Western District of Washington, alleged federal securities law violations and accused the company and its officers of making false and misleading statements and withholding adverse material facts while touting the drug's efficacy and likely...
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