Defendant Name:
Cytrx Corporation
Defendant Type:
Public Company
SIC Code:
2836
CUSIP:
23282850
Document Reference:
33-10345
Document Details
Legal Case Name
In the Matter of CytRx Corporation
Document Name
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
Document Date
10-Apr-2017
Document Format
Administrative Proceeding
Allegation Type
Market Manipulation
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$75,000.00
Shared:
