SEC Investigates Galena Pump And Dump Scheme

The Securities and Exchange Commission (SEC) has opened an investigation into Galena Biopharma Inc (NASDAQ:GALE) for engaging a marketing firm called The Dream Team Group that allegedly helped the company boost its stock price just ahead of new stock offerings and insider sales, reports Adam Feuerstein at The Street. Feuerstein can probably take some of the credit for the SEC probe, writing an expose of The Dream Team’s practices in February around the same time that the probe kicked off.

$50,000 marketing payment was undisclosed

Galena Biopharma Inc (NASDAQ:GALE) paid $50,000 to the Dream Team Group...