The Shareholders Foundation announces that a deadline is coming up on September 29, 2014 in the lawsuit filed for investors of Galectin Therapeutics Inc. (NASDAQ:GALT) over alleged Violations of Federal Securities Laws by Galectin Therapeutics.
Investors who purchased shares of Galectin Therapeutics Inc. (NASDAQ:GALT) have certain options and there are strict and short deadlines running. Deadline: September 29, 2014. NASDAQ:GALT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the District of Nevada the plaintiff alleges on behalf of purchasers of Galectin Therapeutics Inc. (NASDAQ:GALT) common shares between January 6, 2014 and July 28, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 6, 2014 and July 28, 2014 defendants violated the 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 a press release 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 revealed 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. (NASDAQ:GALT) declined from $15.32 per share on July 25, 2014, to as low as $4.40 per share on August 20, 2014.
On Sept. 8, 2014, NASDAQ:GALT shares closed at 5.81per share.
Those who purchased shares of Galectin Therapeutics Inc. (NASDAQ:GALT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com