SEC v. Galena Biopharma, Inc. and Mark J. Ahn (unregistered distributions, 2017)

Settled

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In 2017 the SEC settled an administrative order against Galena Biopharma, Inc. and CEO Mark J. Ahn over undisclosed paid promotion, including an unregistered issuance of options and shares; Ahn pays $677,250 disgorgement, $67,181 interest and $600,000, and Galena $200,000.

The record

What was ordered

Civil penalty

$800k

Disgorgement

$677k

Prejudgment interest

$67.2k

Total relief

$1.5m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

On April 10, 2017 the SEC accepted settlements with Galena Biopharma, Inc. and its then-CEO Mark J. Ahn. The order concerns paid stock promotion in 2012 to 2014; it finds Galena sold securities to the promotion firm Lidingo in an unregistered transaction by including stock options in its compensation. Ahn is ordered to pay $677,250 in disgorgement, $67,181 in interest and a $600,000 penalty, and Galena a $200,000 penalty, $800,000 in penalties in all. The record previously showed only Ahn's $600,000 penalty and merged the names.

This library tags the matter as unregistered distributions, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-04-10 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.