The Shareholders Foundation announces that an investigation on behalf of investors of Kindred Biosciences Inc (NASDAQ:KIN) shares was initiated over potential securities laws violations by Kindred Biosciences Inc and certain of its directors and officers.
Investors who purchased shares of Kindred Biosciences Inc (NASDAQ:KIN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Kindred Biosciences Inc (NASDAQ:KIN) concerning whether a series of statements by Kindred Biosciences Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Kindred Biosciences Inc grew from $10.39 per share in early 2014 to as high as $26.50 per share in Feburary 2014. Since then NASDAQ:KIN shares lost substantial value.
On August 20, 2014, Kindred Biosciences Inc announced results from its pivotal study of CereKin in Dogs with Osteoarthritis. Kindred Biosciences Incsaid that its pivotal field study (KB010) of CereKin, an interleukin-1 inhibitor for the control of pain and inflammation associated with osteoarthritis in dogs, did not meet its primary endpoint. Shares of Kindred Biosciences Inc dropped from $14.56 per share on August 20, 2014, to $10.00 per share on August 21, 2014.
On September 2, 2014, NASDAQ:KIN shares closed $10.56 per share.
Those who purchased shares of Kindred Biosciences Inc (NASDAQ:KIN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com