Defendant Name: Galena Biopharma, Inc.

Defendant Type: Public Company
SIC Code: 8731
CUSIP: 36325650

Initial Case Details

Legal Case Name In the Matter of Galena Biopharma, Inc. and Mark J. Ahn
First Document Date 10-Apr-2017
Initial Filing Format Administrative Action
File Number 3-17911
Allegation Type Market Manipulation
AAER 3865

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Sec 13(b)(2)(A)
Securities Act
• Sec 5(a)
• Sec 5(c)
• Sec 17(a)(1)
• Sec 17(a)(3)
Other
• Section 5(b)(1) Securities Act
Additionally, Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Sec 13(a) of the Exchange Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Sec 17(a)(1) of the Securities Act.
Mark J. Ahn is alleged to have caused Galena Biopharma, Inc.'s violation of Sec 17(a)(3) of the Securities Act.

Related Violations Alleged

Galena Biopharma, Inc. is alleged to have caused Lidingo Holdings, LLC's violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Galena Biopharma, Inc. is alleged to have caused Lidingo Holdings, LLC's violation of Sec 17(a)(1) of the Securities Act.
Galena Biopharma, Inc. is alleged to have caused The DreamTeam Group, LLC's violation of Sec 17(a)(2) of the Securities Act.
Galena Biopharma, Inc. is alleged to have caused Lidingo Holdings, LLC's violation of Sec 17(a)(2) of the Securities Act.
Galena Biopharma, Inc. is alleged to have caused The DreamTeam Group, LLC's violation of Sec 17(a)(3) of the Securities Act.
Galena Biopharma, Inc. is alleged to have caused Lidingo Holdings, LLC's violation of Sec 17(a)(3) of the Securities Act.

Resolutions

First Resolution Date 10-Apr-2017
Headline Total Penalty and Disgorgement $1,544,431

Related Documents:

33-10337 10-Apr-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On April 10, 2017, the SEC instituted a settled proceeding against Galena Biopharma, Inc. and Mark J. Ahn. According to the SEC: "[f]rom January 2012 to February 2014, Galena and its then-CEO Mark Ahn engaged in a scheme to mislead investors by commissioning over 100 internet publications promoting Galena that purported to be independent and objective when, in fact, they were paid promotions funded by Galena."

Other Defendants in Action:

Mark J. Ahn

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