NEW YORK, Feb. 14, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Galena Biopharma Inc. ("Galena" or the "Company")(NasdaqGS: GALE). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Galena and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Wednesday, February 13, 2014, a report was published by Thestreet.com's Adam Feurstein reporting that the company pays and encourages unethical and potentially illegal stock promotion, while Galena insiders have sold nearly $10 million in company stock in past two months.
On this news, shares of Galena fell $0.65 per share to $4.54 or more than 12.53%, on February 13, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP