NEW YORK, NY / ACCESSWIRE / February 10, 2016 / Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against KaloBios Pharmaceuticals, Inc. ("KaloBios" or the "Company") (NASDAQ: KBIO). The class action has been filed in the United States District Court for the Northern District of California is on behalf of a class consisting of all persons or entities who purchased KaloBios Pharmaceuticals, Inc. securities during the period between November 19, 2015 and December 17, 2015, inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act"). KaloBios is a biopharmaceutical company dedicated to the advancement of monoclonal antibody therapeutics for serious medical conditions including respiratory diseases, cancer and oncology.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Shkreli was currently the subject of a federal criminal investigation; (2) KaloBios's CEO was involved in a scheme involving the illegal use of stock from Retrophin, Inc. to pay off debts associated with other unrelated business dealings; (3) the discovery or exposure of this scheme would likely undermine KaloBios' operations and prospects; and (4) as a result of this, Defendants' statements about KaloBios' business, operations, and prospects were materially false and/or misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!blank/vjjns. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in KaloBios Pharmaceuticals, Inc. you have until February 16, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC