| Company: | CellCyte Genetics Corp. |
| Ticker Symbol: | OTC: CCYG |
| Class Period: | April 6, 2007 to January 9, 2008 |
| Date Filed: | Jan-14-08 |
| Lead Plaintiff Deadline: | Mar-14-08 |
| Court: | Western District, WA |
| Allegations: |
A proposed class action lawsuit has been filed in the United States District Court for the Western District of Washington at Seattle on behalf of purchasers of the common stock of CellCyte Genetics Corporation, ("CellCyte" or the "Company") (OTC Bulletin Board: CCYG) during the period between April 6, 2007 through and including January 9, 2008 (the "Class Period").
The complaint alleges that during the Class Period CellCyte executives and business partners misled investors by publishing false information about the history and experience of the company's chief executive officer Gary A. Reys. Reys' background was called into question after published news reports called out alleged discrepancies relating to Reys' finance degree from the University of Washington, a CPA designation, ties to the Washington Society of Certified Public Accountants and a strong track record within the pharmaceutical industry.
According to the complaint CellCyte made misleading and false statements about Reys to potential investors and the SEC. These published statements had the cause and effect of creating an unrealistically positive assessment of CellCyte's prospects for investors. As a result stock prices for the company were artificially inflated during the Class Period. Soon after Reys' credibility came into question the suit claims CellCyte took some of Reys' biography information off its Web site. Within days of the removal company stock fell 55 percent to $2.20 a share. CellCyte traded at a high of $7.02 per share just days before.
The Complaint alleges that the Defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated there under against all defendants and that Defendants Gary A. Reys, Ronald W. Berninger, Robert H. Harris, G. Brent Pierce and James L. Rapholz violated Section 20(a) of the Exchange Act.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint alleges that during the Class Period CellCyte executives and business partners misled investors by publishing false information about the history and experience of the company's chief executive officer Gary A. Reys. Reys' background was called into question after published news reports called out alleged discrepancies relating to Reys' finance degree from the University of Washington, a CPA designation, ties to the Washington Society of Certified Public Accountants and a strong track record within the pharmaceutical industry.
According to the complaint CellCyte made misleading and false statements about Reys to potential investors and the SEC. These published statements had the cause and effect of creating an unrealistically positive assessment of CellCyte's prospects for investors. As a result stock prices for the company were artificially inflated during the Class Period. Soon after Reys' credibility came into question the suit claims CellCyte took some of Reys' biography information off its Web site. Within days of the removal company stock fell 55 percent to $2.20 a share. CellCyte traded at a high of $7.02 per share just days before.
The Complaint alleges that the Defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated there under against all defendants and that Defendants Gary A. Reys, Ronald W. Berninger, Robert H. Harris, G. Brent Pierce and James L. Rapholz violated Section 20(a) of the Exchange Act.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
