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The Shuman Law Firm Investigates Galena Biopharma, Inc.BOULDER, Colo. --(Business Wire)-- The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Galena Biopharma, Inc. ("Galena" or the "Company") (Nasdaq: GALE). Galena is an Oregon-based biopharmaceutical company commercializing and developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. Firm's investigation relaes to allegations raised in a thestreet.com exposé which suggested that Galena misrepresented and/or failed to disclose that: (1) the Company hired a promoter - The DreamTeam Group - to boost Galena's share price; (2) the promoter posted misleading articles on Galena's behalf without properly disclosing its paid marketing relationship; (3), Galena's stock price tripled in value from $2 per share in July 2013 to almost $7.50 in the middle of January during The DreamTeam Group's promotion; and (4) Galena insiders, including its CEO sold Company stock during the time when the promoter's positive articles on Galena were being published. The Company also recently confirmed that the Securities Exchange Commission is investigating these allegations. Galena stock closed at $3.08 per share on March 19, 2014, down from its trailing year high of $7.77 per share. If you currently own Galena common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at [email protected] or email Mr. Glenn at [email protected]. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.
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