BALA CYNWYD, Pa., Jan. 22, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of KaloBios Pharmaceuticals, Inc. ("KBIOQ" or the "Company") (OTC Markets -KBIOQ- News) for potential violations of federal securities laws and breaches of the KaloBios Board's fiduciary duties.
Click here to learn more about the investigation http://brodsky-smith.com/1025-kbioq-kalobios-pharmaceuticals-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Northern District of California. The complaint alleges that the Defendants made false and misleading statements including (1) failing to disclose that the CEO of KaloBios was engaged in a scheme involving the illegal use of stock from Retrophin, Inc. to pay off debts associated with other unrelated business ventures; and (2) the discovery and revelation of that scheme would likely undermine KaloBios' operations and prospects. Consequently, on December 17, 2015, following the arrest of the Company's CEO, shares of KaloBios dropped significantly.
If you purchased shares of KaloBios common stock between November 19, 2015 and December 17, 2015, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC before February 16, 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/1025-kbioq-kalobios-pharmaceuticals-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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SOURCE Brodsky & Smith, LLC
