DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Galectin Therapeutics, Inc. (“Galectin” or “Company”) (NasdaqCM: GALT) and several officers and directors for acts taken during the period of January 6, 2014 to July 28, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Galectin. If you are an affected Galectin shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants misrepresented and/or failed to disclose that: a) the Company was using the services of paid stock promoters to disseminate positive reports about Galectin’s prospects; b) GR-MD-02 did not provide the benefits suggested by defendants when discussing the patent the Company was awarded or the Phase 1 clinical trial it was conducting; and c) as a result of the defendants’ false and misleading statements, Galectin’s stock traded at artificially inflated levels at all relevant times. According to the Complaint, when the truth was released to the market, the stock plummeted.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
