SAN DIEGO, Aug. 26, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Galectin Therapeutics Inc. (GALT) common stock over alleged violations of Federal Securities Laws by Galectin Therapeutics Inc.
If you purchased shares of Galectin Therapeutics Inc. (GALT), you have certain options and for certain investors are short and strict deadlines running. Deadline: September 29, 2014. GALT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between January 6, 2014 and July 28, 2014 defendants allegedly violated federal securities laws by disseminating allegedly false and misleading statements to the investing public about the Company's business and prospects and that as a result of defendants' statements, Galectin Therapeutics Inc.'s stock traded at allegedly artificially inflated prices between January 6, 2014 and July 28, 2014, reaching a high of $18.30 per share on February 27, 2014.
On July 24, 2014, Emerging Growth Corp. claimed in an announcement that Galectin Therapeutics Inc was "nipping at [the] heels" of its competitors and "actually may be closer than what first appears with a Phase 1 trial because of the potential to treat fatty liver disease even once it has progressed." Then, on July 28, 2014, an article on SeekingAlpha.com claimed that Galectin Therapeutics Inc had "strong ties to stock promoters" engaging in a misleading brand awareness campaign aimed at boosting its stock price. The same day, a separate article on TheStreet.com alleged that Emerging Growth, through its parent company TDM Financial, a penny-stock promotions firm, was the investor relations and marketing company Galectin Therapeutics Inc was paying for misleading promotional campaigns to entice investors to buy its stock. Shares of Galectin Therapeutics Inc. (GALT) declined from $15.32 per share on July 25, 2014, to as low as $4.40 per share on August 20, 2014.
Those who purchased shares of Galectin Therapeutics Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.