Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Galectin Therapeutics Inc.
August 22 2014 - 1:37PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Galectin Therapeutics Inc. (NASDAQ CM:
GALT)?
- Did you purchase your shares before
January 6, 2014, or between January 6, 2014 and July 28, 2014,
inclusive?
- Did you lose money in your
investment in Galectin Therapeutics Inc.?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A., including former Special Assistant
United States Attorney, Timothy J. MacFall, announces that a
complaint has been filed in the United States District Court for
the District of Nevada on behalf of all persons or entities that
purchased the common stock of Galectin Therapeutics Inc.
(“Galectin” or the “Company”) (NASDAQ CM: GALT) between January 6,
2014 and July 28, 2014, inclusive (the “Class Period”), alleging
violations of the Securities Exchange Act of 1934 against the
Company and certain of its officers (the “Complaint”).
If you purchased shares of Galectin during the Class Period, or
purchased shares prior to the Class Period and still hold Galectin,
and wish to discuss this action or have any questions concerning
this notice or your rights or interests, please contact Timothy J.
MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242;
by e-mail to info@rl-legal.com; or at:
http://www.rigrodskylong.com/investigations/galectin-therapeutics-inc-galt.
Galectin is a development-stage company engaged in drug research
and development to create new therapies for fibrotic disease and
cancer. The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged false
and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on July 28, 2014, Bleecker Street
Research published an article on SeekingAlpha.com claiming that
Galectin “has strong ties to stock promoters” engaging in a
misleading brand awareness campaign aimed at boosting its stock
price. On that same day, Adam Feuerstein published an article on
TheStreet.com revealing that Emerging Growth Corp., through its
parent company TDM Financial, a penny-stock promotions firm, was
the investor relations and marketing company Galectin was paying
for misleading promotional campaigns to entice investors to buy its
stock.
On this news, shares in Galectin plummeted more than 60%,
closing at $5.70 per share on July 29, 2014, on unusually heavy
trading volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than September 29, 2014. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. In order to be appointed lead plaintiff,
the Court must determine that the class member’s claim is typical
of the claims of other class members, and that the class member
will adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. Any member of the proposed class may
move the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
While Rigrodsky & Long, P.A. did not file the Complaint in
this matter, the firm, with offices in Wilmington, Delaware and
Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco888-969-4242516-683-3516Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
Galectin Therapeutics (NASDAQ:GALT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Galectin Therapeutics (NASDAQ:GALT)
Historical Stock Chart
From Sep 2023 to Sep 2024