Welcome to the Settlement website for the Galena Biopharma, Inc., Securities Litigation (the “Action”)

PLEASE READ – IMPORTANT:

On January 23, 2023, the Court issued an Order Granting Motion for Distribution of Class Action Settlement Funds. The initial distribution took place on March 21, 2023.


IF YOU PURCHASED OR OTHERWISE ACQUIRED GALENA BIOPHARMA, INC. COMMON STOCK DURING THE PERIOD NOVEMBER 3, 2014, THROUGH NOVEMBER 9, 2015, INCLUSIVE (THE “CLASS PERIOD”), AND WERE DAMAGED THEREBY, YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE CLASS AS SET FORTH IN THE LONG NOTICE.

Subject to Court approval, Plaintiffs, on behalf of themselves and the Class, have agreed to settle the Action in exchange for a settlement payment of $1,600,000.00 in cash (the “Settlement Amount”) to be deposited into an escrow account. The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, and (d) any attorneys’ fees awarded by the Court) will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Class. The proposed plan of allocation is included in the Long Notice.

Your legal rights are affected whether you act or don’t act. Read the Long Notice carefully.


Important Dates and Deadlines
Submit a Proof of Claim Form Online or Postmarked No Later than January 20, 2022 This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Class Member and you remain in the Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (that you have against Defendants and the other Defendants’ Releasees), so it is in your interest to submit a Claim Form.
Exclude Yourself from the Class by Submitting a Written Request for Exclusion So That It Is Received No Later than January 31, 2022 If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims.
Object to the Settlement by Submitting a Written Objection So That It Is Received No Later than January 31, 2022 If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Class Member and do not exclude yourself from the Class.
Go to a Hearing on February 24, 2022 at 10:30 a.m., and File a Notice of Intention to Appear So That It Is Received No Later than January 31, 2022 Filing a written objection and notice of intention to appear by January 31, 2022, allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.
Do Nothing If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

Important Dates
  • November 3, 2014–November 9, 2015, inclusive
    Class Period
  • Postmarked by January 20, 2022
    Deadline to Submit a Claim Form
  • Postmarked by January 31, 2022
    Deadline to Exclude Yourself from the Class
  • Received by January 31, 2022
    Deadline to Object
  • February 24, 2022 at 10:30 a.m.
    Final Approval Hearing


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