San Diego, CA -- (SBWIRE) -- 08/11/2014 -- An investor, who purchased shares of Galectin Therapeutics Inc. (NASDAQ:GALT), filed a lawsuit in the U.S. District Court for the District of Nevada over alleged violations of Federal Securities Laws by Galectin Therapeutics Inc. in connection with certain allegedly false and misleading statements made between January 6, 2014 and July 28, 2014.

Investors who purchased shares Galectin Therapeutics Inc. (NASDAQ:GALT) have certain options and for certain investors are short and strict deadlines running. Deadline: September 29, 2014. NASDAQ:GALT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Galectin Therapeutics Inc. (NASDAQ:GALT) common shares between January 6, 2014 and July 28, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 6, 2014 and July 28, 2014 defendants violated the federal securities laws by disseminating allegedly false and misleading statements to the investing public about the Company’s business and prospects and that as a result of defendants’ statements, Galectin Therapeutics Inc.’s stock traded at allegedly artificially inflated prices between January 6, 2014 and July 28, 2014, reaching a high of $18.30 per share on February 27, 2014.

Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) grew from $1.67 per share in November 2012 to as high as $18.30 per share in February 2014.

On July 24, 2014, Emerging Growth Corp. claimed in a press release that Galectin Therapeutics Inc was “nipping at [the] heels” of its competitors and “actually may be closer than what first appears with a Phase 1 trial because of the potential to treat fatty liver disease even once it has progressed.”

Then, on July 28, 2014, an article on SeekingAlpha.com claimed that Galectin Therapeutics Inc had “strong ties to stock promoters” engaging in a misleading brand awareness campaign aimed at boosting its stock price. The same day, a separate article on TheStreet.com revealed that Emerging Growth, through its parent company TDM Financial, a penny-stock promotions firm, was the investor relations and marketing company Galectin Therapeutics Inc was paying for misleading promotional campaigns to entice investors to buy its stock. Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) declined from $15.32 per share on July 25, 2014, to as low as $5.06 per share on August 8, 2014.

On August 8, 2014, NASDAQ:GALT shares closed at $5.22 per share.

Those who purchased shares of Galectin Therapeutics Inc. (NASDAQ:GALT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com