NEW YORK, Aug. 4, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces a class action lawsuit has been commenced in the United States District Court for the District of Nevada on behalf of purchasers of Galectin Therapeutics, Inc. ("Galectin" or the "Company") (Nasdaq:GALT) securities between January 6, 2014 through July 28, 2014, inclusive (the "Class Period").
If you purchased Galectin during the Class Period, you may, no later than September 29, 2014 request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you want more information about the Galectin Therapeutics, Inc. Securities Class Action please contact Morgan & Morgan at 1-800-732-5200 or email info@morgansecuritieslaw.com.
During the class period, Galectin issued false and misleading statements which failed to disclose that Galectin utilized paid promoters to issue misleading statements about the Company's prospects, particularly with regard to the its leading product candidate GR-MD-02. Galectin's stock price declined dramatically following a series of articles accusing the Company of improper conduct in connection with promotion of its experimental drug. Following this news, shares of Galectin fell $8.84, to close at $5.70 per share on July 29, 2014.
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