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Galena Biopharma, Inc.

Case Summary

Galena Biopharma, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 09/20/2018 (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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

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.

COURT: D. New Jersey
DOCKET #: 17-CV-00929
JUDGE: Hon. Kevin McNulty
DATE FILED: 02/13/2017
CLASS PERIOD START: 08/11/2014
CLASS PERIOD END: 01/31/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (New Jersey)
    236 Tillou Road, The Rosen Law Firm (New Jersey), NJ 07079
    (973) 313-1887 (973) 833-0399 · lrosen@rosenlegal.com
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of the Federal Securities Laws 02/13/2017
2 Notice of Motion of the Gale Investor Group for Consolidation, Appointment of Lead Plaintiff, and Approval of Selection of Counsel 04/14/2017
3 Memorandum & Order 07/17/2017
4 Order Granting Motion of the Gale Investor Group for Consolidation, for Appointment of Lead Plaintiff, and Approval of Selection of Lead Counsel 07/17/2017

Reference Complaint

Dan Grunfeld, et al. v. Galena Biopharma, Inc., et al.

COURT: D. New Jersey
DOCKET #: 17-CV-00929
JUDGE: Hon. Kevin McNulty
DATE FILED: 09/20/2018
CLASS PERIOD START: 08/11/2014
CLASS PERIOD END: 01/31/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Federman & Sherwood (Oklahoma City)
    10205 N. Pennsylvania, Federman & Sherwood (Oklahoma City), OK 73120
    405.235.1560 405.235.1560 ·
  2. Kantrowitz, Goldhamer & Graifman, P.C.
    210 Summit Avenue, Kantrowitz, Goldhamer & Graifman, P.C., NJ 07645
    201-391-7000 201-307-1086 · kgg@kgglaw.com
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Consolidated Class Action Complaint for Violations of the Federal Securities Laws 10/06/2017
2 Opinion 08/21/2018
3 Order 08/21/2018
4 U.S. District Court Civil Docket 09/20/2018
5 First Amended Consolidated Class Action Complaint for Violations of the Federal Securities Laws 09/20/2018
 
 

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