KaloBios Pharmaceuticals, Inc. is an American company that develops monoclonal antibody therapeutics to treat respiratory diseases and cancer.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants failed to disclose: (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 Order granting distribution of Class Settlement funds was issued by the Court on March 29, 2018.

An amended Complaint against the remaining individual Defendant was filed on August 25, 2017. On March 21, 2018, Plaintiffs and the remaining individual Defendant entered into a Stipulation of Settlement. This Stipulation of Settlement was preliminarily approved on March 29. An amended Order granting preliminary approval of the Settlement was filed on April 2, 2018. On August 2, 2018, the Court granted final approval of the Settlement and entered Final Judgment. On January 24, 2019, the Court issued an Order to distribute Class Settlement funds.