Avid Bioservices Inc (CDMO)

[biopharm]

1) Peregrine files and claims "fraud" "began in 2009" by "CSM project Manager" ..etc..etc and leaves a whole mess of other facts out ..

2) CSM basically rehashes these statements: "It is without knowledge or information..." so they are not responsible and they make claim to "28 affirmative defenses..."

3) Lawsuit settled privately and no public disclosures

.... Now, IF both sides know its going to be settled privately, I just don't see CSM admitting anything since now this is just like all the hedge funds from the past paying a fine and not admitting any guilt at all. But of course... we will have some saying it was not fraud or sabotage because Peregrine settled and the last thing on record is CSM denying everything.

Frustrating for sure.... but it just so happens to all run its course directly into May 1st option period it seems.