Case Page

 

Case Status:    SETTLED
On or around 08/25/2017 (Ongoing date of last review)

Filing Date: December 18, 2015

According to the law firm press release, the complaint alleges that throughout the Class Period, defendants failed to disclose that: (1) 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; (2) that discovery and revelation of the scheme would likely undermine the Company’s operations and prospects; and (3) that, as a result of the foregoing, Defendants’ statements about KaloBios’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On April 28, 2016, the Court issued an Order appointing lead plaintiffs and and approving lead counsel.

On July 1, 2016, the Lead Plaintiffs and certain Defendants (including the Issuer Defendant) entered into an Agreement for a partial settlement. This Settlement was preliminarily approved by the Court on January 20, 2017. The court granted final approval of the partial settlement on July 24.

An amended complaint against the remaining individual Defendant was filed on August 25, 2017.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KBIO
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 15-CV-05841
JUDGE: Hon. Edward J. Davila
DATE FILED: 12/18/2015
CLASS PERIOD START: 11/19/2015
CLASS PERIOD END: 12/17/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 15-CV-05841
JUDGE: Hon. Edward J. Davila
DATE FILED: 08/25/2017
CLASS PERIOD START: 11/19/2015
CLASS PERIOD END: 12/16/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Pomerantz LLP (Chicago)
    10 South LaSalle Street, Suite 3505 , Pomerantz LLP (Chicago), IL 60603
    312-377-1181 312-377-1184 ·
No Document Title Filing Date