A law office recently announced that it filed a securities class action lawsuit against a therapeutics company after allegations surfaced regarding the company violating federal securities laws.
Law firm Robbins Geller Rudman and Dowd, LLP, noted that the lawsuit was filed in the U.S. District Court for the District of Nevada against Galectin Therapeutics, Inc. This includes all shareholders who purchased interests in the company during the class period between Jan. 6, 2014 and July 28, 2014.
The allegations in the case center around the board of directors and other leaders of the company potentially violating the Securities Exchange Act of 1934. Specifically, the company's leaders may have made a number of statements that were false or misleading regarding the business and its potential. These statements hurt the overall value of the company's stock.
It is an option for shareholders to take up the lead plaintiff position in the case. For those interested parties, it is necessary that all paperwork is filed with the court within 60 days of the filing date. This is not a mandatory position, though anyone who is a class member is welcome to apply. Those who are interested in the position have the option of appointing their own counsel. It is still possible to remain an absent class member and collect in the event of a financial return.
For those shareholders who would like to learn more about the case, speaking with the law office is an option. The best person to get in touch with is Darren Robbins, and he can be reached by telephone or email. Further information can be obtained on the law office's website.
Separate investigation begins
Another law office noted that it started an investigation of the leaders at Galectin Therapeutics for many of the aforementioned reasons. This may also become a class action lawsuit in the future.
Bronstein, Gewirtz and Grossman noted the investigation will center around the possibility that the leaders at Galectin Therapeutics violated federal securities laws. This was due to an article that said the company hired a firm to promote its stock when one of its drugs did not perform well in a test.
Speaking with this law firm is also a possibility. Both Edward Gewirtz and Eitan Kimelman are available to be reached by telephone or email. Any stockholders who send an email should leave their telephone number and mailing address. Additional details are available on the law office's website.