BOSTON, March 18, 2014 /PRNewswire/ -- Shares in Galena Biopharma, Inc. ("Galena" or the "Company") (NASDAQ: GALE) have plunged on news of alleged improper and misleading marketing and advertising. Today, Galena acknowledged that the United States Securities and Exchange Commission has opened an investigation into whether Galena misled its investors. Since February 12, 2014, when TheStreet.com published a story claiming that Galena was engaged in a misleading brand awareness campaign, Galena's stock price has fallen by 35% from its closing price on February 13, 2014 through its morning trading price on March 18, 2014. Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating whether the Company and certain of its officers and directors have violated the federal securities law in connection with the alleged improprieties.
If you purchased Galena stock between March 12, 2013 and March 17, 2014 and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte or Mark Delaney of Block & Leviton LLP at (617) 398-5600 or at Steven@blockesq.com or Mark@blockesq.com. Confidentiality to any whistleblowers or other persons with information relevant to the investigation is assured.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
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SOURCE Block & Leviton LLP