A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Galena Biopharma Inc (NASDAQ: GALE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on April 16, 2016 and NASDAQ: GALE investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/21/2016 -- The Shareholders Foundation announced that a deadline is coming up on April 16, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Galena Biopharma Inc (NASDAQ: GALE) between August 6, 2013 and May 14, 2014.
Investors who purchased a significant amount of shares of Galena Biopharma Inc (NASDAQ: GALE) between August 6, 2013 and May 14, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Galena Biopharma Inc (NASDAQ: GALE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/galena-biopharma-inc-nasdaq-gale-investor-securities-class-action-lawsuit-03062014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is April 16, 2016. The class action administrator for this case is KCC Class Action Services.
The lawsuit was originally filed in the U.S. District Court for District of Oregon against Galena Biopharma Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 6, 2013 and February 14, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Galena Biopharma Inc (NASDAQ: GALE) between November 6, 2013 and February 14, 2014, that Galena Biopharma Inc and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that defendants violated the federal securities laws by disseminating alledegly false and misleading statements to the investing public and that as a result of defendants' statements, Galena Biopharma Inc's (NASDAQ: GALE) stock traded at artificially inflated between November 6, 2013 and February 14, 2014, reaching a high of $7.48 per share on January 16, 2014.
Those who purchased shares of Galena Biopharma Inc (NASDAQ: GALE) have certain options and should contact the Shareholders Foundation.
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