Kahn Swick & Foti, LLC Files Suit Against GTx, Inc.: Remind Investors With Large Financial Interests of Important Deadline – GTXI
NEW ORLEANS–(BUSINESS WIRE)–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 (lewis.kahn@ksfcounsel.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.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850