April 10, 2017
Galena Biopharma, Inc., Mark J. Ahn
SANCTION AMOUNT: $1,544,431
Defendants: Galena Biopharma, Inc.
Mark J. Ahn
The SEC found that respondents (issuer and CEO) 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. Some of the publications were transmitted while Galena was preparing to offer or offering securities. Respondents also allegedly violated various provisions of the securities laws in connection with stock options it granted to/redeemed for one of secretly paid promoters.
- Key Docs
- Official SEC press release