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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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From: Icebrg	6/9/2006 7:22:58 AM
	of 946

Federal Judge Dismisses Shareholder Lawsuit Against Cell Therapeutics, Inc. Friday June 9, 7:00 am ET SEATTLE, June 9 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC - News) announced today that U.S. District Judge Ricardo S. Martinez has granted CTI's motion to dismiss a private securities fraud class action lawsuit (F.L. Heywood, et al; filed November 7, 2005) alleging false statements by company officers. The Judge's decision was issued May 4 but went into permanent effect on June 8, 2006. "We are pleased with the Judge's decision to dismiss this lawsuit," said CTI's President and CEO, James A. Bianco, M.D. "CTI will continue to focus on its mission to develop new therapies for cancer victims."

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