Shareholder Sues Pharmaceutical Company, Others Over Stock Drop

Mealey's (December 23, 2015, 9:39 AM EST) -- SAN FRANCISCO — A biopharmaceutical company shareholder filed a securities class action complaint in California federal court on Dec. 18, alleging that the company and certain of its executive officers issued a series of misrepresentations regarding the company’s business and financial condition in violation of federal securities laws (Kang Li v. KaloBios Pharmaceuticals Inc., et al., No. 15-5841, N.D. Calif.).

(Complaint available. Document #57-160120-501C.)

Shareholder Kang Li filed the complaint in the U.S. District Court for the Northern District of California, naming KaloBios Pharmaceuticals Inc., CEO...
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