NEW YORK, March 31, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Galena Biopharma, Inc. securities (NASDAQ: GALE) from August 11, 2014 through January 31, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Galena investors under the federal securities laws.

To join the Galena class action, go to  http://www.rosenlegal.com/cases-1054.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email  pkim@rosenlegal.com or  kchan@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Galena's sales of Abstral were based on unsustainable sales and marketing practices; (2) such sales and marketing practices could subject Galena to a criminal investigation; and (3) as a result, Defendants' statements about Galena's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 14, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1054.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

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