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Breach of fiduciary is should I dare say "obvious". The reason why is that they've kept Kennedy on so far...
You just can't survive as chief counsel after this kind of disaster unless the leadership is just looking out for themselves.
En Banc would have a much better chance if we had a dissenter on the initial panel but unfortunately we had none.
His record is such that they have clearly violated his Fiduciary duty, especially in not firing Kennedy. As has his board. In fact we can probably get his personal assets...
We can force them out via suit... I personally wish Marjac was solely dedicated to that lawsuit and not wasting time with the clearly rigged biased appeals court with a majority of appointees from a certain party that I cannot mention without censorship...
A lot of us are kind of shell shocked...
Apple (and I hate Apple) turned around immediately when Steve Jobs came back as CEO to replace the incompetent Gil Amelio.
If we got rid of Thero we could turn around bigtime...
Lizzy when you called the Baker Brothers number you sure you got someone who understood the situation and wanted to call you back...
I got some intern who didn't know anything, what time did you call?
I doubt Thero (who probably wants yes men the way all stubborn idiots given a little power do) would even consult with them on anything business or strategy related.
I don't think the people on the science side of things have done anything wrong but everyone on the business/sales/marketing/legal etc. yeah they all have to go.
But if Thero Kennedy and the board is removed it will be.
A fish rots from the head down
And so does a fish oil pharma company. I think Thero Kennedy and the board is rotten. No reason to believe the people who ran the studies and filled out the FDA and EMA applications and such are rotten.
We don't necessarily need to be sold anywhere near this price...
AMRN with the right deal is still potentially worth 100x what it is right now, the poison the cancer and the obstacle is Thero. Win or lose he and they need to go but we should not be eager to sell ourselves so cheap.
I said this all I think before Couldbebetter and was the 1st guy to mention Authorized Generics after the patent loss. Of course I told IR that Thero should use the THREAT of authorized generics to negotiate a settlement.
I may not have been the original Thero hater but I definitely hated him before it was cool.
Lets just remember when this En Banc thing reaches its conclusion that we then focus relentlessly and with a terrible resolve on getting rid of the current management.
JZ probably could not have done much to prevent the anchor adcom shit (I suppose he could have diluted for seemingly no reason and spent massively on lobbying but probably wouldn't have done that much good that early)...
JT filing in the 9th circuit was an unforced and unforgivable mistake. He has to go.
1. Amarin's management is very well compensated despite the horrible job they've done. Yes I consider them essentially a gang of criminals... the Tammany Hall of Corporate Managements.
2. All who supported the decision should go. Yes I don't think JT was exclusively responsible but there was some meeting where this was okayed... anyone who supported the decision in the company should go. Covington (Eric Holder's leftist firm that also screwed General Flynn) should also get sued for legal malpractice for it.
In fact to elaborate its quite possible Kennedy and Thero are bigtime Democrats they filed in the 9th circuit believing their own bullshit about how other Democrats are fair minded... it was an example of being woke and going broke. ALL connected with this decision must be ruthlessly purged from the company.
3. I could believe that if JT hasn't made so many bad decisions in the past...
4. Make the deal now.
The something in the works to salvage this company should include new leadership... JT has had multiple chances and he has failed. I love the drug but I have zero trust in him and in Kennedy. We especially need someone who can speak of the future in a somewhat inspirational way... and JT can never ever be that person. Also anyone he could potentially make a deal with know he is in sort of a desperate position given that most amarin shareholders now despise him... this does not make for a stronger negotiating position.
If the Baker brothers will not remove him I'll be part of a lawsuit that will...
I'm not better than that I consider JT to be a personal enemy of mine who has cost me what should have been millions of dollars. He could have learned to be a better speaker (perhaps never a good one but he could have learned to be passable) but he never has...
He never has because he never cared about doing anything with this company instead of looting it.
But the most unforgivable stupid decision of all was filing in the 9th circuit, he needed to maximize the chance for a conservative/republican judge who would respect Amarin's intellectual property but they did the exact opposite.
Now he wants to GIA in Europe instead of making an immediate Authorized Generic deal, its clear he is going to continue to make bad decisions. He has to go lets not defend him...
The immense value of Vascepa can still be mostly salvaged (I would say at least 80% of what its value should have been) but we need to make an Authorized Generic deal ASAP to do it and the stammering moron thief is in the way.
DTC ads should have started immediately after Reduce-IT.
That was the whole point of the 1st amendment suit, the FDA already hates us for the 1st amendment suit (the adcom, approving generics immediately). There was no reason to delay DTC ads after the reduce it study came out.
Yes JT needs to be blamed. Lets not consensus crack on this...
There is no excuse for anyone who decided to file the case in the 9th circuit, that decision alone is an unforgivable error.
He has botched the marketing of this drug as well, been continously screwed by the FDA and insurance companies because he refuses to hire a lobbyist or do any deals for his political protection and appears to be GIA in Europe and plans to delay a launch of an authorize generic. We need to do a deal for an authorized generic and for European distribution YESTERDAY.
Lets not even mention his refusal to learn to speak... why hasn't he taken any lessons?
Lizzy whats the number and email though...
I don't have their contact information...
Lizzy,
Can I have the number... and the email if you have it?
"the guy who took my info seemed to recognize the situation I mentioned...we'll see."
Very very good news if the secretary or whoever there knew about it maybe JT's 9 lives with the Baker brothers are up.
Thank you Lizzy.
We should be emailing the Baker Brothers more with questions like why are you tolerating a management that has ruined your investment...
Not about this pipe dream amicus brief.
I hope I'm wrong but this is the longest of longshots.
You have Baker Bros email?
Its only libel if it isn't true. They'd never sue us for libel because if THEY sue they cannot limit discovery.
Get Thero fired and forget the rest of this BS
Everyone forget about this combo pill BS...
And lets not put much hope in the Amicus brief or these corrupt Democrat justices... also BS. Maybe if the Democrats try to violently overthrow Trump and fail (which will make him basically dictator) we'll be able to get a new trial on the grounds that corrupt activist democrats stole from us... but the fix is in for now.
The key to everything is getting rid of Thero and having the new CEO do an authorized generic deal and a deal for Europe. Forget a bargain basement buyout we won't need a buyout we'll only marginally miss the patents... But it just cannot happen with Thero there.
So while eventually marjac should be able to remove him via a lawsuit if anyone has any ideas (knows any activists investors) etc who could force a remover of Thero quicker you need to focus on that.
The board won't fire him voluntarily (which is disgusting) but the record of the company and of a couple of things in particular are sufficient to establish in court that keeping JT on is a breach of fidicuary duty by the board (and that JT himself has breached it).
It may take a while but we're getting the fucker out of the company...
They've done something or rather have not done something that will constitute proof of looking out for themselves instead of shareholders so you are wrong.
We need to get rid of JT and Kennedy but the company CAN be fixed if they are gone.
I agree they are a cancer.
His record is such that it should be easy to force him and the board out in court.
Only if he stays the CEO... I plan that he won't. When the board sees we're seeking their personal assets they'll agree to a settlement that involves firing him.
We may not need to go through a lawsuit to the end.
Breach of fidicuary means their personal assets are at risk it "pierces the corporate veil", we agree to a settlement with the board that spares their personal assets (but not JT or Kennedy's) and gets us a new management.
I doubt the majority of the board of directors will want to take even a 10% risk of being found liable in a lawsuit for their personal money in order to protect JT or Kennedy. Money talks bullshit walks.
Not sure if they could legally try to insist on a say in who the management was unless they bought a big piece of the company... and you would to convince Teva or Azn or whoever to approach the board (which I don't have much hope in either) directly and go over JT's big stupid head because hes not going to broker a deal that requires that he gets fired.
Thero and Kennedy have to go, its that simple. Get someone smart who can speak properly, doesn't make such terrible decisions and isn't mainly interested in feathering his own nest. Filing in the 9th circuit alone is an unforgivable error. Holding onto Kennedy after he made such an error is the rope we can hang them with including getting their personal assets for breach of fiduciary.
We don't need a firesale of the company this is the exact wrong time to try to sell it but we do need to make an authorized generic deal yesterday (preferably with Teva but of course we should not be overly commited to Teva) COMBINED with a european distribution deal... JT should not wait for Hikma and Redy to launch he needs to do that deal BEFORE they would ever come in.
I don't care about that company, this company has a good product it just needs someone who can make a good deal.
JT is not that man. Don't try to defend JT nobody should at this point consensus cracking on this not welcome at this stage. He stole our money.
We need to remove the current management, there is no hope with them there.
Marjac as far as I know is working on that...
The record of the management is so bad they are going to be removed by a minority suit for breach of fiduciary... where they fucked up is holding onto Kennedy after losing the patent case. That is enough to prove they are scratching each others backs instead of looking out for shareholders...
Because its breach of fiduciary they are liable for personal assets as well.
LOL!
Well they filed in the 9th circuit... they must be f**king Democrats to think that was a good idea.
Don't defend JT!!!
I want JT gone. But that doesn't mean selling the company for 7 dollars is the right thing.
I hate JT probably more than anyone here and I hated him long before it was cool...
But JT is right that outright selling the company now is not the right thing to do, worst possible timing. Most of Vascepa's US market value could be preserved with the right kind of authorized generic deal with a big company (ideally Teva but Teva is not our only option, you always want to have multiple negotiating options).
Pinochet did not do a thorough purge and the leftists are unfortunately back in Chile.
Suharto did a thorough purge involving far more leftists and communists and while Indonesia still has a problem being of being a country of the religion of peace leftism is totally extinct there to this day.
You want to solve the problem you can't half ass it... and if the left pushes things to civil war my hope is that Trump won't. And maybe in the aftermath we can get our patents back...
But this is off topic the main thing is to get rid of the current management.
Do you define communists as people?
I know how I feel after a bunch of communist judges stole my money.