I doubt the plaintiffs will prevail on the time in
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Posted On: 03/27/2021 6:54:57 PM
I doubt the plaintiffs will prevail on the time interval March 2020 to present.
Experimental drug in the middle of a pandemic? The share price could be anything.
If the lawyers went after the time interval between Pourhassan's Portland local TV interview and the CD12 data release, seems to me the plaintiffs win easily.
Pourhassan goes on TV, "share price should be 100 dollars".
Pourhassan admits that at the time of his statement he knew that the primary endpoint was missed. Possible Pourhassan didn't know the endpoint miss at the time of the portland TV interview but so, so unlikely.
Probs the lawyers wont test the time interval between the Portland TV interview and the CD12 reveal cuz it was only a handful of trading days.
The $2 share price drop is significant but only 20 million shares traded in that timeframe so damages are limited to $40 million or so.
Experimental drug in the middle of a pandemic? The share price could be anything.
If the lawyers went after the time interval between Pourhassan's Portland local TV interview and the CD12 data release, seems to me the plaintiffs win easily.
Pourhassan goes on TV, "share price should be 100 dollars".
Pourhassan admits that at the time of his statement he knew that the primary endpoint was missed. Possible Pourhassan didn't know the endpoint miss at the time of the portland TV interview but so, so unlikely.
Probs the lawyers wont test the time interval between the Portland TV interview and the CD12 reveal cuz it was only a handful of trading days.
The $2 share price drop is significant but only 20 million shares traded in that timeframe so damages are limited to $40 million or so.
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