The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Kindred Biosciences Inc (NASDAQ:KIN) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Kindred Biosciences Inc
Investors who purchased shares of Kindred Biosciences Inc (NASDAQ:KIN) and currently hold any of those NASDAQ:KIN shares 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 concerns whether certain Kindred Biosciences Inc (NASDAQ:KIN officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
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 December 3, 2014, Kindred Biosciences, Inc. announced that it has re-assessed its atopic dermatitis program and the atopic dermatitis market and has decided to discontinue its AtoKin study in favor of directing resources toward other programs in its portfolio. Shares of Kindred Biosciences Inc declined from $10.00 per share on November 28, 2014 to as low as $5.98 per share on December 4, 2014.
On December 16, 2014, NASDAQ:KIN shares closed at $6.52 per share, which is significantly below its 52 week High of $26.99 per share.
Those who purchased shares of Kindred Biosciences Inc 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