Judge Throws Out Suit Against Cell Therapeutics

Law360, New York (June 9, 2006, 12:00 AM EDT) -- A federal judge has tossed a private securities fraud class action suit against Cell Therapeutics Inc., which claimed the company’s officers made false statements relating to the success of its lung cancer drug XYOTAX.

U.S. District Judge Ricardo S. Martinez’s ruling, which was handed down May 4, went into effect Thursday, dismissing the allegations against the Seattle-based biopharmaceutical company in the U.S. District Court for the Western District of Washington.

The company was pleased with the lawsuit dismissal, according to company President and CEO James A....
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