Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of all purchasers of the securities of Galena Biopharma, Inc. (“Galena” or the “Company”) (NASDAQ:GALE) between November 6, 2013 and February 14, 2014, inclusive (the “Class Period”).

Galena is a biopharmaceutical company commercializing and developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. The Complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose that: (1) the Company hired a promoter – The DreamTeam Group – to boost Galena’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.

On February 12, 2014, TheStreet.com published an article alleging that several articles touting Galena, which were posted on the SeekingAlpha.com website under the guise of different individual investors, were removed from the site after it was discovered that the articles were written by the same person, without disclosure of the paid marketing relationship to Galena. Then, on February 14, 2014, in a Company-issued press release, Galena admitted that it had paid The DreamTeam Group to promote its stock.

If you purchased Galena securities during the Class Period, you have until May 5, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, 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 howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.