Investor Failed To Plead Misrepresentations In Securities Suit, Judge Rules

(June 17, 2016, 10:54 AM EDT) -- NEW YORK — Dismissal of a second amended complaint in a securities class action lawsuit is proper, a federal judge in New York ruled June 8, because a shareholder failed to plead any material misrepresentations or omissions on the part of drug maker and certain of its executive officers in making his federal securities law claims (Gary Zagami v. Cellceutix Corp., et al., No. 15-7194, S.D. N.Y.; 2016 U.S. Dist. LEXIS 74638).

(Opinion available. Document #57-160620-058Z.)

Shareholder Gary Zagami filed a second amended complaint in the...
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