WAYNE, Pa., Jan. 8, 2016 /PRNewswire/ -- Ryan & Maniskas,
LLP announces it has filed a class action lawsuit has been filed in
the United States District Court for the Northern District of
California against KaloBios
Pharmaceuticals, Inc. ("KaloBios" or the "Company") (NASDAQ: KBIO)
on behalf of investors who purchased or otherwise acquired the
common stock of the Company during the period from November 19, 2015 through December 17, 2015 (the "Class Period).
KalBios shareholders may, no later than February 16, 2016, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
KalBios and would like to learn more about these claims or if you
wish to discuss these matters and have any questions concerning
this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/kbio.
KaloBios is a biopharmaceutical company focused on the
development of monoclonal antibody therapeutics for serious medical
conditions. The Company's clinical focus had included both
respiratory diseases and cancer. However, as a result of the
termination of the Company's respiratory programs, the Company's
clinical development efforts shifted to oncology.
The Complaint brings forth claims for violations of the
Securities Exchange Act of 1934. The Complaint alleges that
throughout the Class Period, Defendants made false and/or
misleading statements, as well as failed to disclose material
adverse facts about the Company's business, operations, and
prospects.
Specifically, 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) the Company's CEO
was engaged in a scheme involving the illegal use of stock from
Retrophin, Inc. to pay off debts associated with other unrelated
business ventures; (3) the discovery or revelation of the scheme
would likely undermine the Company's operations and prospects; and
(4) as a result of the foregoing, Defendants' statements about
KaloBios' business, operations, and prospects were materially false
and/or misleading at all relevant times.
If you are a member of the class, you may, no later than
February 16, 2016, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide. To learn more
about the class action process, please visit:
www.rmclasslaw.com.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/kbio
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP