Shkreli was “terminated as chief executive officer of the company and resigned from his position as a member of the board of directors” on December 17, the day of his arrest, KaloBios said in a securities filing.
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At least 14 dead after tornadoes rip through US on Christmas
A tree blew over onto a house in Arkansas, killing an 18-year-old woman and trapping a 1-year-old child inside, authorities said. Planes at a small airport in the north-west of the state were overturned and an unknown number of people were injured.
On Friday he resigned as CEO of Turing Pharmaceuticals and on Monday KaloBios Pharmaceuticals removed him as CEO.
Christmastime tornadoes kill at least 14 in South
Meteorologist Jason Holmes said eyewitnesses spotted the funnel and the agency has confirmed its presence. Sean Edwards, a Birmingham police spokesman, there are no known injuries at this point.
However, the criminal and civil charges against Shkreli are not related to drug pricing.
Alabama tornado: city of Birmingham hit by twister
Green said she was unsure of whether any neighbors had been injured or killed down the block where several homes were destroyed. Sean Edwards, a Birmingham police spokesman, said trees were down and people were trapped inside damaged houses.
Shkreli has pleaded not guilty to the federal charges, and faces up to 20 years in prison if convicted of the securities and conspiracy charges.
Robert Capers, U.S. attorney of the eastern district of NY, said the charges brought against Shkreli were “a securities fraud trifecta of lies, deceit, and greed”, adding that he “essentially ran his companies like Ponzi schemes, where he used each subsequent company to pay off defrauded investors from the previous company”.
Turing, under Shkreli, was widely criticized for buying rights to a relatively cheap, decades-old treatment for a life-threatening infection, then hiking its price by more than 5,000 percent. The drug to be tested was KB003, which was being developed to treat a form of leukemia.
After Shkreli disclosed in November that he had taken a large stake in the struggling drug firm, KaloBios shares soared.
Martin Shkreli’s bad month continues.
Shkreli’s Twitter account was hacked Sunday, and someone changed the name on the profile to “Martin The God”.
Shkreli, 32, was arrested in relation to a firm he founded in 2011, unrelated to the price hike he instituted for Daraprim with Turing Pharmaceuticals.
Shkreli, a flagrant self-promoter who recently said he should have hiked the price of Daraprim even more, was paraded in handcuffs by the Federal Bureau of Investigation after his arrest.
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KaloBios, which has a market cap of less than United States dollars 100 million, hasn’t traded since last Thursday. Before his Twitter account got hacked, Shkreli called the accusations against him “baseless and without merit”. While shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) remain halted by the NASDAQ pending the turnover of additional information by the company, this news certainly won’t do anything to alleviate investor’s fears.
