Company Website:
http://www.rigrodskylong.com
WILMINGTON, Del. -- (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.
Contacts:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter
Allocco
888-969-4242
516-683-3516
Fax: 302-654-7530
info@rl-legal.com
http://www.rigrodskylong.com
Source: Rigrodsky & Long, P.A.
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