LOS ANGELES, April 03, 2017 (GLOBE NEWSWIRE) — Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Galena Biopharma, Inc. (“Galena” or the “Company”) (Nasdaq:GALE) concerning possible violations of federal securities laws between August 11, 2014 and January 31, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 14, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Galena made false and/or misleading statements and/or failed to disclose that: its sales of Abstral were based on unsustainable sales and marketing practices; that such sales and marketing practices could subject Galena to a criminal investigation; and that as a result of the above, Galena’s statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When this information was released to the public, shares of Galena fell in value, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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