LOS ANGELES, CA / ACCESSWIRE / March 16, 2017 / Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Galena Biopharma Inc. ("Galena" or the "Company") (NASDAQ: GALE) concerning possible violations of federal securities laws. Investors, who purchased or otherwise acquired shares between August 11, 2014 and January 31, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the April 14, 2017 lead plaintiff motion deadline.
On March 10, 2016, the Company announced that "[a] federal investigation of two of the high-prescribing physicians for Abstral has resulted in the criminal prosecution of the two physicians for alleged violations of the federal False Claims Act and other federal statutes," and that the Company was issued a trial subpoena for documents regarding that investigation. The Company also mentioned that "other governmental agencies may be investigating our Abstral promotion practices," and that "on December 16, 2015, we received a subpoena issued by the U.S. Attorney's Office in District of New Jersey requesting the production of a broad range of documents pertaining to our marketing and promotional practices for Abstral." When this information was revealed to the public, the value of Galena stock fell, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE: Lundin Law PC