Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[Buddhahead]

New 8-K filed:

"Item 8.01. Other Events.

On February 19, 2015, Rock Creek Pharmaceuticals, Inc. (the “Company”) became aware of a complaint filed on February 18, 2015, in New York Supreme Court for New York County in which the Company and its Chief Executive Officer, Dr. Michael J. Mullan, are named as a defendants. The complaint was filed by Iroquois Master Fund, Ltd. and American Capital Management, LLC, who were investors in a private placement of the Company’s securities completed in March 2014 (the “Private Placement Transaction”). The complaint also names as a defendant John J. McKeon, a shareholder of the Company.

Iroquois and American Capital are seeking $4.2 million, in the aggregate, in damages or, alternatively, rescission of the Private Placement Transaction, premised on allegations that the Company entered into a “sham” loan agreement with Mr. McKeon to provide the Company with a $5.8 million line of credit in order to fraudulently induce Iroquois and American Capital to acquire the Company’s securities. The Company had not, to the Company’s knowledge, yet been served with the complaint as of February 24, 2015. Although the Company believes that the material allegations are without merit and intends to vigorously defend the litigation, no assurances can be given with respect to the outcome of the litigation. "

Filing at:
http://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=10098983&type=HTML&symbol=RCPI&companyName=Rock+Creek+Pharmaceuticals+Inc&formType=8-K&dateFiled=2015-02-25&cik=0000776008