Kahn Swick & Foti, LLC Files Suit Against GTx, Inc.: Remind Investors With Large Financial Interests of Important Deadline - GTXI
NEW ORLEANS--(BUSINESS WIRE)--May 26, 2019--
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, Former Louisiana Attorney General, Charles C. Foti, Jr., have commenced a securities class action lawsuit against GTx, Inc. (NASDAQCM: GTXI). KSF filed suit in the U.S. District Court for the Southern District of New York (Case No. 1:19-cv-04103-UA) for shareholders of GTx who held shares on the record date April 15, 2019 (“Class Period”) and were harmed by GTx and its Board for alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 in connection with the merger of the Company with Oncternal Therapeutics, Inc.
About the Lawsuit
On March 7, 2019, the Company announced a merger agreement, subsequently amended April 30, 2019 (the “Merger Agreement”), whereby a wholly-owned GTx subsidiary will merge with Oncternal, with Oncternal surviving as a wholly-owned GTx subsidiary, and with each common Oncternal share converted into the right to receive approximately 0.5137 shares of GTx’s common stock.
The complaint alleges that the S-4 Registration Statement filed in connection with the merger provides materially incomplete and misleading information about GTX’s financials and the transaction, violating Sections 14(a) and 20(a) of the Exchange Act, concerning: (a) GTx and Oncternal financial projections; (b) the Proposed Transaction process; and (c) potential Board member conflicts of interest.
What You May Do
GTx shareholders may discuss their legal rights without obligation or cost. Contact KSF Managing Partner, Lewis Kahn ( email@example.com ) toll free at 1-877-515-1850. To serve as a lead plaintiff by overseeing lead counsel, you must apply to the Court no later than sixty (60) days from publication date of this notice. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding GTx’s conduct during the period in question to contact the firm.
About Kahn Swick & Foti, LLC
To learn more about KSF you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190526005041/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2019.
PUB: 05/26/2019 07:46 PM/DISC: 05/26/2019 07:46 PM