NEW YORK, NY / ACCESSWIRE / May 30, 2019 / Juan Monteverde, founder and managing partner at Monteverde &Associates PC, a national securities firm headquartered at the Empire State Building in New York City announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York against GTx, Inc. (NASDAQ: GTXI) ("GTx" or the "Company") for shareholders who held GTx securities as of the record date on April 15, 2019 (the "Class Period"), and have been harmed by GTx's and its Board of Directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the merger of the Company with Oncternal Therapeutics, Inc. ("Oncternal").
Under the terms of the transaction, each share of Oncternal common stock will be converted into the right to receive approximately 0.5137 shares of GTx's common stock (the "Merger Consideration"). The complaint alleges that the Merger Consideration is inadequate and that the Proxy Statement provided shareholders with materially incomplete and misleading information about the Company's financials and the Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Proxy Statement contained materially incomplete and misleading information concerning: (i) financial projections for GTx and Oncternal; (ii) the Proposed Transaction Process; and (iii) potential Board conflicts of interest. The special meeting of GTx stockholders to vote on the Merger will be held on June 5, 2019.
If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2019. Any member of the putative 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.
Click here for more information: https://www.monteverdelaw.com/case/gtx-inc. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017 - 2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 and 2018 Top Rated Lawyer.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2019 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
SOURCE: Monteverde & Associates PC
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