(RTTNews) -  Saturday, law Offices of Howard G. Smith said a securities class action lawsuit has been filed against Cell Therapeutics, Inc. (CTIC: News ) alleging misrepresentations regarding business and financial prospects.

The complaint alleges that the company violated federal securities laws by issuing material misrepresentations to the market concerning the its business and financial prospects, thereby artificially inflating the price of its securities.
The class action lawsuit was filed on behalf of those who purchased common stock of Cell Therapeutics between May 5, 2009 and February 8, 2010. The lawsuit was filed in the United States District Court for the Western District of Washington. No class has yet been certified for the complaint.

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by RTT Staff Writer

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