NEW YORK, July 29, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Galectin Therapeutics, Inc. ("Galectin" or the "Company") (NASDAQ: GALT). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Galectin and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 28, 2014, a report published by the seekingalpha.com website claiming that, "GALT has strong ties to multiple stock promoters.", and "Insiders have been selling the stock in the midst of a campaign to promote the stock to retail investors and retirees."
On this news, shares of Galectin fell $8.84 per share to $5.70, or more than 60.80%, in intraday trading on July 29, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP
