On or around 05/31/2019 (Ongoing date of last review)
Filing Date: February 13, 2017
According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Galena’s sales of Abstral were based on unsustainable sales and marketing practices; (2) such sales and marketing practices could subject Galena to a criminal investigation; and (3) as a result, Defendants’ statements about Galena’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A consolidated Complaint was filed on October 6, 2017. Defendants filed a Motion to Dismiss the consolidated Complaint on December 15. On August 21, 2018, the Court issued an Order granting Defendants' Motion to Dismiss the consolidated Complaint. Lead Plaintiffs were given leave to file an amended Complaint. On September 20, Lead Plaintiffs filed an amended consolidated Complaint.
Company & Securities Information
Defendant: Galena Biopharma, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: GALE
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Steven Miller, et al. v. Galena Biopharma, Inc., et al.