Martin Shkreli Gets Reduced Role in KaloBios

[wsj-responsive-image P=”//art.wsj.net/api/photos/38149093/smartcrop?height=499&width=749″ J=”//art.wsj.net/api/photos/38149093/smartcrop?height=639&width=959″ M=”//art.wsj.net/api/photos/38149093/smartcrop?height=853&width=1280″ caption=”Martin Shkreli exits federal court on May 3 in the Brooklyn borough of New York City.” credit=”Getty Images” placement=”Inline” suppressEnlarge=”false” ]

KaloBios Pharmaceuticals Inc. reached a deal that would limit former Chief Executive Martin Shkreli’s role at the drug company. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Toy company Toys “R” Us Inc. won approval to extend the maturity of bonds maturing in 2017 and 2018, DBR reports in WSJ.

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Penn Virginia LLC’s bankruptcy judge approved a restructuring deal, DBR reports in WSJ.

The Revel casino in Atlantic City, N.J., needs to reschedule its reopening after city officials rejected it, the Associated Press reports.

Write to Melanie Cohen at melanie.cohen@wsj.com. Follow her on Twitter at @MelanieLisa

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