Defendant Name:
Galena Biopharma, Inc.
Defendant Type:
Public Company
SIC Code:
8731
CUSIP:
36325650
Document Reference:
33-10337
Document Details
Legal Case Name
In the Matter of Galena Biopharma, Inc. and Mark J. Ahn
Document Name
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
Document Date
10-Apr-2017
Document Format
Administrative Proceeding
AAER
3865
Allegation Type
Market Manipulation
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$200,000.00
Shared:
Other Defendants in Action:
