Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $1.5 Million Settlement in the KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) Investor Lawsuit

Via: ReleaseWire

Updated 11:45 AM CDT, Mon, June 04,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 18, 2018 and NASDAQ: KBIO investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 06/04/2018 -- A deadline is coming up on June 18, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) between November 19, 2015, and December 16, 2015.

Investors who purchased a significant amount of shares of KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) between November 19, 2015, and December 16, 2015, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/kalobios-pharmaceuticals-inc-nasdaq-kbio-investor-securities-class-action-lawsuit-12182015

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 18, 2018. The class action administrator for this case is Strategic Claims Services.

The lawsuit was originally filed in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by KaloBios Pharmaceuticals Inc in connection with certain allegedly false and misleading statements made between November 19, 2015 and December 17, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) common shares between November 19, 2015 and December 17, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 19, 2015 and December 17, 2015 defendants allegedly failed to disclose that the CEO of the Company was engaged in a scheme involving the illegal use of stock from Retrophin, Inc. to pay off debts associated with other unrelated business ventures, that discovery and revelation of the scheme would likely undermine the Company's operations and prospects, and that, as a result of the foregoing, Defendants' statements about KaloBios Pharmaceuticals Inc's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Those who purchased shares of KaloBios Pharmaceuticals Inc (NASDAQ: KBIO) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-15-million-settlement-in-the-kalobios-pharmaceuticals-inc-nasdaqkbio-investor-lawsuit-988907.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com