NEW YORK, March 6, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Oregon on behalf of holders of Galena Biopharma, Inc. ("Galena" or the "Company") (Nasdaq:GALE) securities between November 6, 2013 and February 14, 2014.
For more information, click here: http://zlk.9nl.com/galenabiopharma-gale.
The complaint alleges that throughout the Class Period, Galena made false and/or misleading statements that led to the artificial inflation of Galena's stock price, allowing its Chief Executive Officer to sell $3.8 million worth of his Galena stock.
On February 12, 2014, an article featured on TheStreet.com alleged Galena was engaging in a misleading campaign aimed at boosting its stock price, alleging that investor relations firm The DreamTeam Group had published articles under aliases promoting the Company's stock without disclosing their sponsorship. Then on February 14, 2014, Galena acknowledged that it had paid the investor relations firm The DreamTeam Group to promote the Company.
If you suffered a loss in Galena you have until May 5, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/galenabiopharma-gale.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP