Energy News / Shareholders Foundation, Inc.

Investor Alert: Galectin Therapeutics Inc. (NASDAQ:GALT) Under Investigation over Potential Violations of Federal Securities Laws

Via: ReleaseWire

Updated 7:45 AM CDT, Wed, March 25,2015

An investigation for investors in Galectin Therapeutics Inc. (NASDAQ:GALT) shares over potential securities laws violations was announced and NASDAQ:GALT stockholders should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 03/25/2015 -- An investigation on behalf of investors of Galectin Therapeutics Inc. (NASDAQ:GALT) shares over potential securities laws violations by Galectin Therapeutics Inc. and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Galectin Therapeutics Inc. (NASDAQ:GALT) and currently hold any of those NASDAQ:GALT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm relates to news reports that the Company's senior management failed to disclose that they had hired Emerging Growth Corp., a penny-stock promotions firm, to conduct an illegal stock promotion campaign on behalf Galectin

On July 24, 2014, Emerging Growth Corp. claimed 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 $5.06 per share on August 8, 2014.

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.

On July 30, 2014, a lawsuit was filed against Galectin Therapeutics Inc over alleged securities laws violations. 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.

Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) declined from $15.32 per share on July 25, 2014, to as low as $5.06 per share on August 8, 2014, respectively $3.00 per share on December 24, 2014.

On March 23, 2015, NASDAQ:GALT shares closed at $3.69 per 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

For more information on this press release visit:
http://www.releasewire.com/press-releases/investor-alert-galectin-therapeutics-inc-nasdaqgalt-under-investigation-over-potential-violations-of-federal-securities-laws-588288.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com