Avid Bioservices Inc (CDMO)

[skweze]

Someone already has taken legal action against the company, BOD and management. The case was dismissed. Although their case was thoroughly discredited at the trial court level, they have appealed. Given that the plaintiffs have demonstrated through trial documents that they have inside knowledge of the company's efforts to secure a partner, it is not a stretch, imo, to consider that the plaintiffs - with no serious hope of a victory at the appellate level - think they can strong arm a settlement by creating a "potential" liability that impedes partnership and finance options, or they hope that such machinations will help keep a temporary lid on the share price.

if Peregrine BOD and management was as bad as some suggest, wouldn't it be prudent to take legal action against the BOD and management? Or, is it easier to take advantage of a company's focus on science to manipulate the stock?