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https://www.marketwatch.com/press-release/nobilis-sues-anson-funds-and-anson-analyst-sunny-puri-for-300-million-2015-11-05-111602514
PRESS RELEASE
Nobilis Sues Anson Funds and Anson Analyst Sunny Puri for $300 Million
Published: Nov 5, 2015 11:25 a.m. ET
HOUSTON, TX, Nov 5, 2015 (Marketwired via COMTEX) -- Nobilis Health Corp. (nyse mkt:HLTH) (NHC) ("Nobilis" or the "Company") announced today that it has filed suit in the Ontario Superior Court of Justice against Sunny Puri, Anson Canada, Anson LP, Anson Capital, Anson Investment Fund, and Anson Catalyst Fund, along with John Does 1 through 20. The claim alleges that these individuals perpetrated a scheme to damage Nobilis' reputation and business relationships in order to profit through short-selling of Nobilis stock. Nobilis is seeking monetary damages in excess of $300,000,000 along with punitive damages. Nobilis expects to add more Anson affiliates and other participants in the scheme as defendants.
The complaint specifically alleges that the Anson family of hedge funds and associated-individuals devised and participated in a "short attack" scheme against the Plaintiff, Nobilis Health Corp., in which the defendants broadcast false and defamatory information about Nobilis in order to drive down the price of Nobilis' publicly traded stock (the "Nobilis Common Stock") so that the defendants could profit from short positions they had taken in Nobilis Common Stock and derivative securities thereof. The key to the scheme was the written attack (the "Article") on Nobilis' business which the defendants prepared and anonymously posted under the pseudonym "The Emperor Has No Clothes" to the website "Seeking Alpha" (www.seekingalpha.com) ("Seeking Alpha"). The Article made numerous statements of purported "fact" about Nobilis' business that were false and defamatory, including allegations that the Company's auditors resigned amid controversy (untrue), CFOs had been shuffled to hide impropriety (untrue), insiders had sold all of their Nobilis Common Stock (untrue), that the Company was hiding poor performance behind acquisitions (untrue), that major insurers would not pay for certain medical procedures billed by Nobilis (untrue), and several other false, defamatory and misleading statements.
Nobilis Common Stock traded at $6.81 at the open of trading on Toronto Stock Exchange on October 9, 2015 -- the day the Article was broadcast. At close that day the price was $4.93. Over the next two weeks Nobilis Common Stock continued trading downward to a low of $2.83, a drop of approximately 60% from price at the open of trading on October 9, 2015. That decline translates to a loss of over $300,000,000 million in market capitalization.
Nobilis believes it is entitled to damages for reputational harm, disruption of its business and affairs, loss of corporate opportunities, costs of investigating and correcting the false and defamatory statements, costs of defending against investor litigation initiated as a result of the false and defamatory information, and other consequential damages resulting from the defendants' scheme and market manipulation.
The case is Nobilis Health Corp. v. Sunny Puri, M5V Advisors, Inc (c.o.b. as Anson Group Canada), Admiralty Advisors, LLC, Frigate Ventures, LP, Anson Investments LP, Anson Capital, LC, Anson Investments Master Fund, LP, AIMF, GP, Anson Catalyst Master Fund, LP, ACF GP, and John Does 1 through 20, Court File No. CV-15-11162-0000, Ontario Superior Court of Justice. Nobilis management is in discussions with US-based counsel regarding the Company's legal recourse against parties located in the United States.
Another beauty...
https://www.thestreet.com/story/12861427/1/marijuana-entrepreneurs-plagued-mystery-bullies.html
Marijuana Entrepreneurs Plagued by Mystery Bullies
Cannabis entrepreneurs are plagued by slander and sabotage.
NEW YORK (MainStreet) ? The marijuana penny stock Terra Tech is preparing a lawsuit against Anson Funds in Toronto for allegedly making libelous statements about the company to members of the Clark County Commission in Nevada who were considering 79 applicants for 18 grow licenses.
"They were repeatedly emailing commissioners, giving them false information about our company," said Terra Tech CEO Derek Peterson. "They claimed the FBI had raided our offices, which isn't true."
Under its subsidiary MediFarm, Terra Tech is moving forward in applying for production and cultivation permits within Clark County, North Las Vegas and Reno as well as dispensaries in Clark County, Reno and the City of Las Vegas.
"We were specifically told by one commissioner that he voted against licensing us because of the information that had landed there from detractors however we still applied at the state level because if they don't rank applications in the same way that the local level does, we could be in a position to have another chance at those permits," Peterson told MainStreet.
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Legal counsel for Terra Tech plans a civil suit based on tortious interference, which is the act of using false information to disrupt another person or entity's ability to do business. "When investors are short a stock, they profit when the price drops but taking deliberate action to force a company's stock price to drop could violate securities law as well as several civil laws," said Peterson.
Terra Tech has also been under attack online by a Twitter user named @Laughinpaulryan whose true identity Peterson believes is a man by the name of Norman Gates.
One tweet stated that a Terra Tech board member was sentenced to jail, according to Peterson.
We've got a great company on board... Wow!
https://business.financialpost.com/news/fp-street/catalyst-capital-files-450-million-lawsuit-accusing-anson-funds-west-face-of-short-selling-conspiracy
Catalyst Capital files $450-million lawsuit accusing Anson Funds, West Face of short-selling 'conspiracy'
Lawsuit claims ‘Wolfpack Conspirators’ worked with group of borrowers who had defaulted on loans to Callidus
Catalyst Capital Group Inc. has launched a lawsuit against Anson Group Canada, a privately held asset manager with operations in Canada and Texas, and Toronto-based private equity firm West Face Capital Inc., accusing them of participating in a “manipulative ‘short and distort’ campaign.”
The alleged target was publicly traded Catalyst subsidiary Callidus Capital Corp., claims the lawsuit, which dubs the Anson, West Face and several associated and unrelated individuals as “Wolfpack Conspirators.”
The lawsuit, filed Tuesday in Ontario’s Superior Court of Justice, claims the group targeted Callidus with a short-selling strategy that involved coordinating with and providing financial support to a group of borrowers who had defaulted on loans to Callidus, and were fighting to prevent Callidus from collecting.
It also alleges use and attempted use of the news media to further their short-selling campaign, improper use of a new regulatory whistle-blowing program, and coordinated buying and selling of shares.
None of the allegations have been proven in court.
In a statement, West Face and principal Gregory Boland, who is named in the lawsuit, said they “deny strenuously every allegation made against them in Catalyst’s latest claim.” The firm intends to file a counter-claim, a spokesperson said.
STORY CONTINUES BELOW
The “allegations are completely devoid of merit, and will be defended vigorously at every turn,” West Face said in the statement, adding that the firm has not shorted the shares of Callidus “in more than two years,” and had “no discussions” with Anson Group about Callidus investments.
Among others, the lawsuit also names Anson principals Moez Kassam and Adam Spears and analyst Sunny Puri, as well as a handful of guarantors to Callidus loans, and a series of 10 John Does who Catalyst says it does not yet know the identity of, but who it believes were part of the alleged short-selling scheme.
Representatives of Anson in Toronto and Dallas could not be reached for comment.
The lawsuit alleges defamation, injurious falsehood, intentional interference with economic relations, civil conspiracy and unjust enrichment, and is seeking general and aggravated damages amounting to $450-million.
Among the claims in the lawsuit is an allegation that some guarantors who owed money to Callidus “filed false ‘whistleblower’ complaints against Callidus through the Ontario Securities Commission.” Then, once the whistleblower complaints were filed, it alleges “the Conspirators worked together to leak allegations contained in the complaints to the media in order to generate media interest.”
It is alleged that the “conspirators” sought to spread rumours within the financial industry that Callidus and Catalyst were the subject of OSC whistleblower complaints and subject to investigations by the OSC and Toronto Police, as part of an effort “to undermine the public confidence in both firms.”
There was no such investigation into Catalyst or Callidus, the firms say in the 33-page statement of claim.
The lawsuit says the story was nonetheless shopped to media outlets including a magazine, a newspaper, and a wire service before the Wall Street Journal published a story on Aug. 9, 2017.
The lawsuit alleges that story was timed to come out late in the day to assist the funds and individuals shorting Callidus shares.
Steve Severinghaus, senior director of communications at Wall Street Journal parent Dow Jones, said in an emailed statement that the news organization is “confident in the fairness and accuracy” of its reporting.
Catalyst and competitor West Face, which both invest in distressed companies, have scrapped in court before, including a prominent dispute involving a former Catalyst employee who left to work at West Face.
Catalyst lost a case in which it alleged misuse of confidential information by West Face in the takeover of WIND Mobile Inc.
The action was dismissed “in its entirety” in August of 2016, with the judge saying he had “considerable difficulty” accepting much of the evidence presented by Newton Glassman, managing partner of Catalyst.
“He was aggressive, argumentative, refused to make concessions that should have been made and contradicted his own statements made contemporaneously in emails,” Justice Frank Newbould said in his August 2016 ruling. “I viewed him more as a salesman than an objective witness.”
The decision is under appeal.
A spokesperson for Catalyst and Callidus declined comment on the latest lawsuit, in which the plaintiffs are also seeking to recoup “the cost of the ‘investigation’” of the alleged misconduct.
According to the statement of claim, the firms’ investigation “resulted in sworn statements, discovery of emails and other facts and evidence” on which the lawsuit is based.
Positive into a negative? BTW, the last June insider buys were much more meaningful in terms of cash values, but were they indicative of any positive things in the future? We all know the answer. If you remember, I said back then that it was an attempt by a "new" management to prop up the share price likely owing to an "encouragement" from the BOD chairman or a new CEO. Why do you believe it's different this time around? Do you agree that the cash amounts are such that they could write them off in few years?
And data readout is, what, three years away, based on median survival?
I’d not count on cash influx from PETX for at least few years. That deal was structured badly.
Google about insider trading. There lots of good articles.
I pointed about a near term horizon events when their purchases could be considered illegal insider trading. If the management is confident in the company’s future and deals are coming in few months, then they can buy now as the discussions are in early stages. If they had some concrete offer on the table, they cannot legally buy now.
These purchases are small to instill any confidence in the company. Both CEO and CEO can lose these amounts pain free.
Besides being just a symbolic gesture, these two insider buys signal there are no imminent material events on the horizon. No monetary deals, no partnership.
Those term sheets turned out to be on shitty terms.
Short interest was up big by 40K shares. Highest interest for several months. Almost 3.7M pre split shares. They knew the raise was coming.
Still no SEC filing regarding the new shares. Wow!
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
3/29/2019 246,026 294,593 1.000000
3/15/2019 207,099 186,814 1.108584
It was meaningless. Just a lazy attempt to show his cheer-leadership.
Confirms that no material events are on the near term horizon. Otherwise, he would not be permitted to make open market buys.
“we wait for pps to go to double and then triple digits”
—————————————-
I hope you are not implying another R/S.
Sorry, a typo. Should have been Interpace Diagnostics. Bloody autocorrect...
Interface Diagnostics was the scavenger:
https://www.globenewswire.com/news-release/2018/08/15/1552357/0/en/Interpace-Diagnostics-Acquires-Select-Assets-of-Rosetta-Genomics-Out-of-Bankruptcy.html
Interestingly, Sabby Management was an insider in ROSG just before filling for a bankruptcy. The history is going to repeat itself with Advaxis?
That’s a different company. Berlin was from Rosetta Genomics.
That's all he has left after his two expensive vacations. He's due to get an annual bonus soon though.
Patents take time to get through the system. Do you hold any patent? Did you ever submit for one?
Getting a patent granted recently is not going to correlate with any near-term business transactions. These are completely independent events. Patents take few years to get approved, thus trying to time them with any business deals taking at least few months is meaningless. Deals are much harder to get done especially those involving monetary terms.
I wonder where are they 13F/G filers that "bought" 1.9M shares a week ago? I think we all know the answer -- these will never be filed as those shares were used to cover their previous (naked) short positions. The history shows that millions and millions newly issued shares were unaccounted for during the last two Advaxis secondaries. What makes you think it's going to be different this time around?
Short interest spiked in mid-March by 776K shares (pre-split). Shorts, you say, did not know what was coming? R/s was supposed to be "uneventful". Reality is that the AACR data was pretty much a "blah". Now what? R/M after a R/S? That's not going save long-time longs from oxygen deprivation.
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
3/15/2019 3,106,800 2,802,497 1.108583
2/28/2019 2,330,614 440,575 5.289937
Once the market cap gets under $15M, they'll have no choice but to declare bankruptcy or take some lowball offer. If nothing positive happens within 5 months, the likelihood of that scenario will be about 95% or higher. Then, Advaxis will be no more by the time folks start celebrating a brand new 2020.
Sans any cash deals, I would not be surprised to see a 2 handle by mid-April. That's when Ken is due to receive an annual bonus. Be patient, G/F.
We all are waiting for the Christ’s second coming. I’d settle for a reappearance of J&E. Whichever happens first.
I believe they own almost 22.5% between three of them -- a total of 1.8M shares. Who else?
(a)
Amount beneficially owned:
Sabby Volatility Warrant Master Fund, Ltd. - 600,000
Sabby Management, LLC - 600,000
Hal Mintz - 600,000
(b)
Percent of class:
Sabby Volatility Warrant Master Fund, Ltd. - 7.49%
Sabby Management, LLC - 7.49%
Hal Mintz - 7.49%
Berlin stated:"“Based on the prolonged survival data and strong safety profile to date, we believe that continued clinical development of ADXS-PSA in combination with KEYTRUDA [® ] is warranted and represents a potentially significant opportunity for Advaxis.”
So, someone IS lying: Either Dr Beer or our CEO. We have seen re-tweets of someone who was singing Beer's tunes by Fuhrestein two days ago. Dew rebutted them on twitter.
Ok, we know now that Sabby Volatility Warrant Master Fund, Ltd. bought 600K shares
https://www.sec.gov/Archives/edgar/data/1100397/000153561019000075/adxs0419.txt
Where are the rest of the shares?
PS. Sabby is even worse than CVI. Cayman Isles is their residence.
AACR is now gone and some round up notes (no, Advaxis was not mentioned):
https://xconomy.com/national/2019/04/03/aacr-2019-roundup-notes-from-a-weekend-of-early-stage-cancer-results/?single_page=true
Now the biggest question for today is will the "new owner" defend this line in the sand: $4.00?
They are not dumb. They just do what needs to be done to stay afloat. The legacy shareholders are the last thing they care about.
As far as I can see there are no catalysts on the horizon, not until ASCO provided they submitted an abstract or two. Until then, we will be down-drifting to low 3s. The only real term catalyst could be a SEC filing that lists a reputable HC fund as a holder. Slim chances, but can't rule it out.
I'm happy for you that you sold. Would have appreciated it if you disclosed that in a real time.
The only hope for a SP recovery now is a Form 4 filing that shows a reputable fund took a large position in this secondary. It's a long shot, and we have not seen any reputable HC fund to take a position in ADXS. Maybe it's a wishful thinking, but why no warrants? Someone did not want any warrants.
But again, the most likely scenario is that these 2.5M shares will be used to cover shorting that preceded this raise. We will see no 13-F/G let alone F4s.
This is a gap financing. Are they expecting a deal? I'd understand if they did this to negotiate with a potential partner from a position of a relative strength, but if no deal by July, we will be forced to rinse and repeat.
Glad to see no warrants, I was wrong expecting those bloody warrants.
So, what's next now?
Secondary pricing likely to be announced between 9am and the opening bell. Based on the PM trades, I'm expecting about 3M shares at $4.50. They'll get about $10M after the commissions -- to extend the cash runway by about a quarter while diluting us by 60%. Geezus.
Both CEO and CFO must be fired immediately. BOD needs to respond, but they are complicit in this highway robbery.
Sorry to hear that. It sucks. Hope you recover before your retirement.
I don’t see how I will be able to retire from my job.
#wmtgreeter
Based on Molly’s history of Sec filings, it appears the secondary pricing will be announced tomorrow right before the opening bell.
Where are all the CL supporters?
So far, no warrants mentioned. They did mention last time around. However, it can change by the time they file the official form.
AGP is the frontrunner of this offering, Guggenheim no more...
This is going to be uuuuglyyy!
PR tomorrow morning. Wait for double or triple warrants attached, and about 5M shares offered at $4. With warrants, it'd take us down to $2, then lower.
Bloody killers.
#wearetoast
The post-secondary "settle out" share price will depend on several factors:
1) Price of the offering;
2) Price of the warrants (2x,3x although JS disagrees with these multipliers -- it's the only door that could be open for ADXS now);
3) IV of the stock -- plug into Black-Sholes model, and you get the final target.
I see the settle out price in low 1s. This is unmitigated disaster...