Hi TaB, I agree CTIX should go after Mako, Rosen,
Post# of 72440
Posted On: 12/23/2015 9:55:36 AM
Re: takingabath #16911
Hi TaB, I agree CTIX should go after Mako, Rosen, etc. with both barrels. A huge settlement could fund research on a lot more of the pipeline though I have to agree a special dividend would be nice 
However I don't agree as far as Rosen "having a field day" with the case. They don't have a leg to stand on. Rosen is now fighting for its life. It's open and shut that they filed a case without doing any research (or in my opinion, being fully cognizant of the facts but filing anyway), claiming to rely on an anonymous article from the internet instead of the company's releases denying the anonymous poster's allegations, and disregarding the information from not one but 2 highly-qualified scientists (the one who wrote a letter to CTIX supporting its claims of efficacy, and the one who wrote an article on Seeking Alpha). All of this information should have been read and evaluated before the suit was filed. Any reasonable person would conclude that the suit was filed either as "greenmail" -- attempting to extort a settlement from the company, as is the practice with ambulance chasers, or, worse, in collusion with the shorts. They waited two months after their initial press release to file the suit. That was plenty of time to do research, and asking for an extension WAS AN ADMISSION that they had not adequately researched the case.
They have violated the professional responsibility part of the NY ethics code. There are all kinds of smoking guns that seem to indicate collusion with "Mako" (like the timing of the lawsuit announcement.) And, CTIX indeed CAN ask for huge damages. What happens to the Rosen firm if this Kim is disbarred? And, does the Rosen firm let each partner just decide to file frivolous suits or did they meet in that less than 2 hours timeframe after the Mako article, read the 12,000 word article, write the press release, and get it onto the wires (transmission on the wires takes at least half an hour after submission, from what I've been told)? There are many things which make the entire Rosen firm, not just Kim, liable. I think many people would be happy if this scuttled their company.
Rosen may continue to try delaying tactics on the theory that CTIX will give up if they drag it on long enough. They are wrong.
However I don't agree as far as Rosen "having a field day" with the case. They don't have a leg to stand on. Rosen is now fighting for its life. It's open and shut that they filed a case without doing any research (or in my opinion, being fully cognizant of the facts but filing anyway), claiming to rely on an anonymous article from the internet instead of the company's releases denying the anonymous poster's allegations, and disregarding the information from not one but 2 highly-qualified scientists (the one who wrote a letter to CTIX supporting its claims of efficacy, and the one who wrote an article on Seeking Alpha). All of this information should have been read and evaluated before the suit was filed. Any reasonable person would conclude that the suit was filed either as "greenmail" -- attempting to extort a settlement from the company, as is the practice with ambulance chasers, or, worse, in collusion with the shorts. They waited two months after their initial press release to file the suit. That was plenty of time to do research, and asking for an extension WAS AN ADMISSION that they had not adequately researched the case.
They have violated the professional responsibility part of the NY ethics code. There are all kinds of smoking guns that seem to indicate collusion with "Mako" (like the timing of the lawsuit announcement.) And, CTIX indeed CAN ask for huge damages. What happens to the Rosen firm if this Kim is disbarred? And, does the Rosen firm let each partner just decide to file frivolous suits or did they meet in that less than 2 hours timeframe after the Mako article, read the 12,000 word article, write the press release, and get it onto the wires (transmission on the wires takes at least half an hour after submission, from what I've been told)? There are many things which make the entire Rosen firm, not just Kim, liable. I think many people would be happy if this scuttled their company.
Rosen may continue to try delaying tactics on the theory that CTIX will give up if they drag it on long enough. They are wrong.
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