Galena Biopharma Reaches $20M Settlement In Securities Lawsuits

(December 11, 2015, 11:05 AM EST) -- PORTLAND, Ore. — Galena Biopharma Inc. will pay $20 million to settle claims in both a securities class action lawsuit and a shareholder derivative lawsuit alleging that the company and certain of its current and former officers and directors engaged in an illegal “pump and dump” insider trading scheme in violation of federal securities laws, according to a press release issued by Galena on Dec. 4.

(Press release available. Document #57-151214-023X.)

Under the terms of the securities class action settlement, In re Galena Biopharma Inc. Securities...
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