There is a disturbance in the Force. I agree with Craig.
There are two issues here:
1) Allegations that Nader and Kazenpour colluded on a scheme to profit from pumped-up stock prices
1) Amarex's alleged failure to perform the clinical trials at generally-accepted professional levels, in a timely manner.
The alleged stock-pumping scheme, and Nader's alleged push for Amarex to file with the FDA whether or not the submission was ready, does not excuse Amarex's failure to do the work -- especially since they were paid extra to get it ready, and they still didn't do it. Amarex should have refused to file instead of using the 3rd-grade excuse "But Nader made me do it ! ! ! !" It's on them.
Whether N and K end up being found guilty of collusion and manipulation, and have to disgorge what was termed their "ill-gotten gains" and (if guilty) hopefully go to the slammer -- nevertheless, even if Nader urged the incomplete submission for his own financial gain --
the REASON the submission was incomplete was that Amarex didn't do the work they were paid for.
Someone pointed out that the arbitration might be able to be terminated because of bad faith by Amarex. If that turns out to be the case, it moves this back into the realm of negotiations between the companies, or ultimately, a lawsuit.
The alleged collusion gives Amarex's attorneys a good excuse to try to muddy the waters for a jury, but I doubt that a judge would be taken in by it. And, a skilled attorney could demolish that argument in a way that any jury would understand.
Sidley-Austin is certainly skilled.
What this DOES do is give Amarex some leverage in negotiating, if there are or will be negotiations going on, because it's now very much in CYDY's interest to have this settled, and to move on from this scandal.
There are two issues here:
1) Allegations that Nader and Kazenpour colluded on a scheme to profit from pumped-up stock prices
1) Amarex's alleged failure to perform the clinical trials at generally-accepted professional levels, in a timely manner.
The alleged stock-pumping scheme, and Nader's alleged push for Amarex to file with the FDA whether or not the submission was ready, does not excuse Amarex's failure to do the work -- especially since they were paid extra to get it ready, and they still didn't do it. Amarex should have refused to file instead of using the 3rd-grade excuse "But Nader made me do it ! ! ! !" It's on them.
Whether N and K end up being found guilty of collusion and manipulation, and have to disgorge what was termed their "ill-gotten gains" and (if guilty) hopefully go to the slammer -- nevertheless, even if Nader urged the incomplete submission for his own financial gain --
the REASON the submission was incomplete was that Amarex didn't do the work they were paid for.
Someone pointed out that the arbitration might be able to be terminated because of bad faith by Amarex. If that turns out to be the case, it moves this back into the realm of negotiations between the companies, or ultimately, a lawsuit.
The alleged collusion gives Amarex's attorneys a good excuse to try to muddy the waters for a jury, but I doubt that a judge would be taken in by it. And, a skilled attorney could demolish that argument in a way that any jury would understand.
Sidley-Austin is certainly skilled.
What this DOES do is give Amarex some leverage in negotiating, if there are or will be negotiations going on, because it's now very much in CYDY's interest to have this settled, and to move on from this scandal.
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