NEW ORLEANS, March 18, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 5, 2014 to file lead plaintiff applications in a securities class action lawsuit against Galena Biopharma, Inc. (Nasdaq:GALE), if they purchased the Company's securities during the period between November 6, 2013 and February 14, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Oregon.
What You May Do
If you purchased shares of Galena and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 5, 2014.
About the Lawsuit
Galena and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On February 12, 2014, an article on TheStreet.com claimed Galena was engaging in a misleading brand awareness campaign aimed at boosting its stock price and that Galena paid investor relations firm The DreamTeam Group ("DreamTeam") to publish articles under aliases promoting the Company's stock without disclosing who paid for them. On this news, Galena's stock price declined by 16%. Then, on February 14, 2014, Galena disclosed that it had engaged DreamTeam. On this news, Galena's stock price dropped another 14%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
Melinda Nicholson, Partner
melinda.nicholson@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
