Defendant Name: Cytrx Corporation

Defendant Type: Public Company
SIC Code: 2836
CUSIP: 23282850

Initial Case Details

Legal Case Name In the Matter of CyRx Corporation
First Document Date 10-Apr-2017
Initial Filing Format Administrative Action
File Number 3-17919
Allegation Type Market Manipulation

Violations Alleged

Other
• Section 5(b)(1) Securities Act

Resolutions

First Resolution Date 10-Apr-2017
Headline Total Penalty and Disgorgement $75,000

Related Documents:

33-10345 10-Apr-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order
On April 10, 2017, the SEC instituted a settled proceeding against CytRx Corporation. According to the SEC: "CytRx violated Securities Act Section 5(b)(1) when, while it was in registration: (1) articles appeared on an investment website that were generated by a firm hired by CytRx, (2) a third party publisher transmitted to his subscribers and other potential investors a report about CytRx, the content of which was largely drafted by CytRx, and subsequently published the report as an article on an investment website, and (3) CytRx forwarded the article published by the third party to a large number of potential investors via email."

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