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CST: 22/08/2019 20:07:49   

Rigrodsky & Long, P.A. Files Class Action Suit Against GTx, Inc.

113 Days ago

WILMINGTON, Del., April 30, 2019 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of GTx, Inc. (“GTx”) (NasdaqCM: GTXI) common stock in connection with the proposed merger of GTx with Oncternal Therapeutics, Inc. (“Oncternal”) announced on March 7, 2019 (the “Complaint”).  The Complaint, which alleges violations of the Securities Exchange Act of 1934 against GTx, its Board of Directors (the “Board”), and Oncternal, is captioned Wheby v. GTx, Inc., Case No. 1:19-cv-00668 (D. Del.).

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/

On March 6, 2019, GTx entered into an agreement and plan of merger (the “Merger Agreement”) with Oncternal.  Pursuant to the terms of the Merger Agreement, shareholders of GTx will own approximately 25% of the outstanding shares of common stock of the combined company (the “Proposed Transaction”).

Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a registration statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission.  The Complaint alleges that the Registration Statement omits material information with respect to, among other things, GTx’s and Oncternal’s financial projections and the background of the Proposed Transaction.  The Complaint seeks injunctive and equitable relief and damages on behalf of holders of GTx common stock. 

If you wish to serve as lead plaintiff, you must move the Court no later than July 1, 2019.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed 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.

Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:                                                                                             

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

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