Sarissa Resources Inc (SRSR)

[es1]

Interesting issue.... Since the 11M shares in question in this case are in SRSR and the case wont go to trial for a year if the spin out occurs in that time the fund gets 315000 shares of Niostar(at 35:1)
Dans issue is with SRSR shares which will still be in the fund but at .0001. This will make them even more illiquid which was the excuse used to not sell and ultimately cause the suit.

Niostar will be very liquid at the start. Dan wont have that excuse. Will there be a second filing of another court case for the Niostar shares or will they be considered the same investment?

Does Dan get a chance to refuse to sell the niostar shares and drag it out another couple of years with the necessary paperwork?

Because I would think that the courts would force the sale if the Niostar spinout gives the fund a liquid but overly risky investment.
But since it is not SRSR shares I don't know if the suit would apply.