BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Galectin Therapeutics Inc. (“Galectin” or the “Company”) (NASDAQ:GALT). The investigation concerns possible violations of federal securities laws and focuses on certain statements issued by the Company concerning Galectin’s business and financial prospects.
Galectin, a development stage company, is engaged in the research and development of therapies for fibrotic disease and cancer. The investigation relates to the publication of a July 28, 2014, article that disclosed that the Company had hired a stock promotions firm to tout its securities. The investigation also relates to the Company’s July 29, 2014, disclosure that its experimental drug GR-MD-02, which was being developed for the treatment of fatty liver disease, showed little difference from a placebo in its Phase 1 study. Following this news, shares of Galectin declined $8.84 per share, or 60.80%, to close on July 29, 2014, at $5.70 per share, on unusually heavy volume.
If you purchased Galectin securities, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.