Investors Failed To Plead Elements Of Their Securities Claims, Shkreli Argues
Mealey's (August 26, 2016, 9:36 AM EDT) -- SAN FRANCISCO — Dismissal of claims against former KaloBios Pharmaceuticals Inc. CEO Martin Shkreli is proper because the lead plaintiffs have failed to plead reliance and because Shkreli’s allegedly false and misleading statements did not trigger a duty to disclose any alleged omissions, Shkreli argues in an Aug. 16 motion to dismiss (Kang Li v. KaloBios Pharmaceuticals Inc., et al., No. 15-5841, N.D. Calif.).
(Motion to dismiss available. Document #57-160815-509B.)
Shareholder Kang Li filed the complaint in the U.S. District Court for the Northern District of...