So....did KBIO commit securities fraud in the documentation of the Private Placement?
the only thing that has to be proven is that the company had knowledge of the sealed MS criminal indictment and failed to amend the documentation before receiving the funds
bammm!
I think your timeline leaves out the key "factoid" that an indictment had already been published naming Shkreli, on Monday 12/14 -- before the equity deal closed.
12/3- KBIO enters into Securities Purchase Agreement - S-1 due within 60 days etc. ** 12/3 KBIO offers options to Armistice Capital ** 12/14 -- Federal court docket publishes "Sealed Indictment" vs. Shkreli 12/15 - KBIO Securities Purchase Agreement amendment #1 12/16 - KBIO Purchase Agreement consummated via 350,224 exempt shares (@ $29.32 per share) issued.
12/17 - Shkreli arrested @ 6:30 AM 12/17 - KBIO halted shortly before 7 AM 12/17 - Shkreli terminated.