September 16, 2021
A group of investors has urged a New Jersey federal judge to grant preliminary approval to a $1.6 million settlement with Galena Biopharma Inc. to resolve allegations the company caused a stock drop with purported misrepresentations regarding its fentanyl-based drug Abstral.
November 13, 2019
The former Galena Biopharma Inc. has defeated for a second time a proposed class action over alleged misrepresentations regarding its fentanyl-based drug Abstral, with a New Jersey federal judge blasting investors' "shotgun approach" in presenting their securities fraud claims.
August 21, 2018
A New Jersey federal judge on Tuesday tossed a putative securities class action that claims Galena Biopharma Inc. and its top brass hid from investors that revenues from the company's pain drug Abstral were driven by an illegal off-label prescription business, finding the investors' liability theory unclear but giving them a chance to fix the issue.