Thursday, December 08, 2016 1:11:43 AM
What the market has completely overlooked is the fact the court affirmed the false advertising liability against BD. Due to the overturned anti-trust portion of the case, RTI looses treble damages but rest assured the affirmed liability against BD will be well north of $50million. Further, there is a special shareholders meeting on December 27, one of the items at hand, Mr. Shaw was granted to purchase 3,000,000 common shares at $2.54 per share ($7,980,000 payable to RTI). At the conclusion of the December meeting insiders will own directly and indirectly (family trusts) approx 86-88% of RTI.
Additionally RTI's Benefits Committee retained Longnecker Investment Group to reward RTI's most "loyal executives" with competitive compensation commensurate with industry standards. Competitive compensation was issued through common shares not pay. Mr. Shaw will now own and control 48.3% of the outstanding common. Shareholders rights plan extraordinar. Anyone read up on the most important patents? Expiration occurs 2020.
Mr. Shaw, distinguished members of the board, as a shareholder holding a significant position, I implore upon you to take the deal presented to RTI, settle with BD, as this presents the best path forward for all shareholders. Equally important, your life's work and passion will be in the hands of the "American healthcare industry" and allowing all to "gain access to healthcare markets that are important to the survival of emerging companies with new technologies that will save lives and offer lower prices to medical consumers and insurers.” Spend your golden years watching your dream fulfilled, not within the confines of the district court.
"The court affirmed a finding of false advertising liability against BD and remanded the case to the Eastern District of Texas for a redetermination as to the amount of damages to which RTI is entitled. RTI is evaluating the appeals court rulings and conferring with legal counsel regarding possible future action."
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