SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in KaloBios Pharma...
12 1월 2016 - 10:30AM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Northern
District of California on behalf of purchasers of KaloBios
Pharmaceuticals, Inc. (Nasdaq:KBIO) (“KaloBios” or the “Company”)
securities during the period between November 19, 2015 and December
17, 2015, inclusive (the “Class Period”). Investors who wish
to become proactively involved in the litigation have until
February 16, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in
KaloBios securities purchased on or after November 19, 2015 and
held through the revelation of negative information during and/or
at the end of the Class Period, as described below, and would like
to learn more about this lawsuit and your ability to participate as
a lead plaintiff, without cost or obligation to you, please visit
our website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company securities during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that Martin
Shkreli, the Chief Executive Officer of KaloBios, was engaged in a
scheme involving the illegal use of stock from Retrophin to pay off
debts associated with other unrelated business ventures the
revelation of which would likely undermine the Company’s operations
and prospects.
According to the complaint, following the
December 17, 2015 news reports that Shkreli was arrested on fraud
charges relating to his illegal use of stock from Retrophin, Inc.
to pay off debts associated with other unrelated business ventures,
the value of KaloBios shares declined substantially.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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