Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Galena Biopharma, Inc. (“GALE” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the District of Oregon by another law firm on behalf of purchasers of the common stock of Galena Biopharma, Inc. (NASDAQ: GALE) between November 6, 2013 and February 14, 2014, inclusive (the “Class Period”).

Throughout the Class Period, the Company was paying a firm called The DreamTeamGroup to promote GALE by publishing articles on Seeking Alpha, TheStreet.com, Wall Street Cheat Sheet, and Forbes, without disclosing the Company’s involvement to investors. These articles boosted the price of GALE’s shares, allowing insiders to sell millions of dollars-worth of the Company’s stock.

The complaint alleges that GALE and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) the Company had hired a promoter to boost GALE’s share price; (2) the promoter posted misleading articles on Galena’s behalf without properly disclosing its paid marketing relationship; and (3), as a result, the Company’s statements were materially false and misleading at all relevant times.

The case was brought following a letter issued by the Company admitting it had paid The DreamTeamGroup to promote GALE’s stock. The price of GALE’s shares fell over 14% from $4.36 to $3.73 in response.

Cohen Milstein encourages all investors who purchased GALE common stock between November 6, 2013 and February 14, 2014, or former employees with information concerning this matter to contact the firm.

If you are a GALE shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve as lead plaintiff, you must move the Court no later than May 6, 2014 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach Gardens, and is active in major litigation pending in federal and state courts throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over one billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.
Jordan Hill
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; jhill@cohenmilstein.com

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