| To: HardToFind who wrote (12826) | 9/16/2020 8:51:13 PM | | From: old 'n cranky | | | | NNVC wouldn't be the only defendant. Thank goodness for the plaintiffs:
"The Company also maintains a limited amount of Directors and Officers Liability insurance coverage to protect all of its directors and executive officers taken together. There can be no assurance that this D&O coverage will be sufficient to cover the costs of the events that may lead to its invocation, in which case, there could be a substantial impact on the Company’s ability to continue operations, should such an unforeseen event occur."
Diwan would surely be a defendant, bringing TheraCour into the party. And others.
Defendants are easy to come by, but it's not clear that a case can be made.
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| To: old 'n cranky who wrote (12827) | 9/16/2020 9:48:38 PM | | From: HardToFind | | | | This lawsuit might even light a fire underneath management to get a drug into human trials...something they have never done before.
Forced into success by a lawsuit...that has to be a rare occurrence. Mind you, the NNVC shareholders will still retain the right to finance Diwan's business aspirations without any obligation to share in the proceeds. |
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| To: HardToFind who wrote (12828) | 9/17/2020 7:12:45 AM | | From: old 'n cranky | | | | What lawsuit? No lawsuit is likely.
Two whole months ago a couple of ambulance chasers tried to get a fire started and we haven't heard from them since. Little wonder, they didn't make much of a case to bring a suit.
One said ...
“We’re focused on investors’ losses and whether NanoViricides has accurately represented the work it is doing toward a potential COVID-19 and other treatments,” said Reed Kathrein, the Hagens Berman partner leading the investigation. “We welcome any and all leads that could assist us in protecting investors.”
The other said ......
"The securities investigation concerns whether NanoViricides provided false or misleading information to investors about its activities related to drug development, including a potential treatment for COVID-19."
Do you really think that these folks will be able to show that NanoViricides hasn't accurately represented the work it is doing toward a potential COVID-19 and other treatments, providing false or misleading information to investors about its activities related to drug development in the process?
Even though those things might very well be true they need to be SHOWN and most of these guys don't like to do the necessary work. Besides, if investors don't do everything they can to avoid being misled through their own due diligence they wouldn't seem to have earned the protection of the Court.
It's interesting that the Hagens Berman release says "Relevant Period: Before July 14, 2020".
You know that's not a period, right? They're going to need to determine a claim period. When would you think the appropriate starting date for that might be? Some time in 2005 or whenever the original license was "granted"?
This won't happen: "Forced into success by a lawsuit...that has to be a rare occurrence."
Diwan can't be forced or cajoled or paid into an NNVC success. I don't think it's even part of his plan. |
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| To: old 'n cranky who wrote (12830) | 9/19/2020 4:54:42 PM | | From: HardToFind | | | | This won't happen: "Forced into success by a lawsuit...that has to be a rare occurrence."Diwan can't be forced or cajoled or paid into an NNVC success. I don't think it's even part of his plan. You're right on multiple counts. In all likelihood...
- There will be no lawsuit.
- There will be no success of the company.
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