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raf, perfect words to describe KM's whining poor baby. It's his ethnic background that gives him a sense of entitlement
marjac, I wonder when & where Amarin Inc. was invented by whom? Do you think by Amarin Inc. being a DE corp could be used to undo the damage that Duaster did? Since it was incorrectly stated in all the Documents?
It never mentions incorporated in DE.
https://en.wikipedia.org/wiki/Amarin_Corporation
robin, there are several areas in the 10K that are questionable. But of course, living in the US we can't prove if they're legitimate such as Eddingpharma or Biologix but if you research the individual companies listed they're BS. HLS is the exception.
robin, it hasn't occurred to me how he'll make a living. We don't know how sleazy he really is since he had a second residence in Switz. He has a beautiful home on the water in Nyack, NY. Look it up on google maps, it's an old victorian. His wife is a pharmacist, isn't that coincidental since his background was in pharmaceuticals? I know his address in NY as it was listed in the SEC filing when he was first hired.
Maybe he'll retire from pharma business or live off his wife's income. LOL
I believe Denner and Odysseas found damaging information and KM knew his time was limited. One of the last filings Sarissa made with the SEC he slammed KM for issuing shs prior to the due date and before the proxy meeting cause he knew they lost the proxy fight. That was the straw that broke the camel's back. Now that sleazy.
marjac, Amarin Inc. is a different entity with Amarin Corp. It may be Incorporated in DE. I've never seen the company refer to it as Inc. was either Corp or Pharma.
11. Plaintiff’s Complaint also names as defendant Amarin Inc. At the time the
Complaint was filed and at the time this notice is being filed, Amarin Inc is a Delaware
corporation with its principal place of business in the State of New Jersey. However, for the
reasons discussed below, Amarin Inc. was fraudulently joined to this action and its citizenship
should be disregarded when analyzing the removability of this action.
James Murphy, no CEO....I think that's what the 6mill share block was about. No direction till the new board finds a replacement, maybe someone within the company?
robin, NO Km never bought stock in the open market.
marjac, I think someone screwed up. I wonder when that happened? Maybe there's another corp under the Amarin umbrella that we don't know about?
Can you tell me where in the documents it states that amarin is a DE corp.? If that's the case how in the world did the original Kennedy case happen in the state of NV? Wouldn't it have had to be tried according to DE laws? Wow I'm confused.
Maybe the new lawyers for Amarin assumed it's incorporated in DE????? That would be stupid on their part.
marjac, where does it say the company is a DE company?
marjac, another thought has occurred to me, does the issue of Amarin Corp. "the company" being chartered in the UK and domiciled in Ireland make it more complicated?
jasbg, I've always said KM was in over his head. Sarissa will have to really prove he doesn't qualify for the bonus. It's stated in all the form 4's in the footnotes. If there's a change in control KM is entitled to a huge bonus. I guess the court will decide if Sarissa's move to take over the board isn't a change in control. They'll have to define a change in control whether it's from the inside or change in control if an outsider e.g. another company is defined as a change in control. I think the defamation issue is very real and KM will win that. Amarin will have to settle. But it depends on the UK charter and how it's defined.
Check out the Remarks in the footnotes for KM's form 4 filing.
https://www.sec.gov/Archives/edgar/data/897448/000089924323006077/xslF345X03/doc4.xml
marjac, why was the lawsuit removed from NJ district court? Was it cause it was moved to federal court if so why?
marjac, thanks for posting the km vs amarin lawsuit.
Personally, I had an experience with the third partner of a company my husband had started with 2 other partners. The third partner was fired/walked off the job and went back to being a full time radiologist. My husband declared in an SEC filing that the company was better off without him because of blah blah. LOL.
The third partner declared war on the company and the CEO, my husband. Well about a year into the lawsuit my husband passed away. I was stuck with dealing with the second partner who was useless, (long story) and the lawyers. After a few years the court determined that the company was liable for defamation of character, the third x-partner kept his founder's stock. To stop the x partner from selling his stock everytime the stock made a move I made an offer to buy his shares. He accepted. The company had to pay his legal fees. It was nasty. I hate to say this but after my experience with the company's lawsuit, KM may have a defamation win and Amarin may have to pay his fees plus some kind of settlement.
meowzo, we are not talking about writing code for blockchain. If that's your version of how an order of the size gets executed well then maybe I'm a dinosaur. If an order of that size travels faster than the speed of light then perhaps you can tell us something about mining blockchain and how fast you can spit out a bitcoin?
Meow, I didnt say dark pools. I used the term third market
Meowzo, ok I give up.its machine controlled.
Please explain your version of how a 6mill she order is executed in one block. I have time so please be concise
dukesking, in the third market or off exchange trading companies are available for large investors probably hf's who can't get rid of a large block without spooking the entire market or in any one stock so instead of destroying the price of a stock they go to their "guy" who sits on the desk and tells them about an order he has that wants to be sold but do a little at time and let the sell order sit on his desk til it's filled, the guy will sell very slowly. Then the 3rd market guy prints the block at the end of the day and hopefully, it doesn't draw too much attention. He/she makes a commission between the spread. The price is usually within the VWAP range. There's more to it but that's a brief description of the transaction.
Now that the order is filled the volume will be much lower.
grbnitz, yes it shows 6,011,097 traded @1.43 in the third mkt on a downtick. Someone was sitting on the order for a while. I think that's why we've been trading in this tight range.
I'm hoping the new BOD determines that reporting a breakout of revenues from the recently approved EU countries will be included in their 10K's and Q's. I seem to recall KM stating that they will not break down the revenues which is baffling to me but what do I know?
capt, Not sure about the synergies. But based on the PR we do know that they are seeking a partnership. It may not be an Israeli firm maybe someone with a further reach in the region?? Thinking out loud.
Amarin Announces VAZKEPA Approved By Israel's Ministry Of Health
BENZINGA 8:22 AM ET 4/4/2023
Symbol Last Price Change
AMRN 1.49up 0 (0%)
QUOTES AS OF 04:00:00 PM ET 04/03/2023
-- Approval of VAZKEPA® to Reduce the Risk of Cardiovascular (CV) Events in Adult Statin-Treated Patients at High CV Risk with Elevated Triglycerides and Other High-Risk Characteristics as Studied in REDUCE-IT --
-- Heart Disease Second Leading Cause of Death in Men and Women Aged 45 and Older in Israel --
DUBLIN, Ireland and BRIDGEWATER, N.J., April 04, 2023 (GLOBE NEWSWIRE) -- Amarin Corporation plc(NASDAQ:AMRN) today announced that Israel's Ministry of Health (MOH) Pharmaceuticals Division has granted regulatory approval to VAZKEPA (icosapent ethyl). The MOH issued its approval of VAZKEPA to reduce the risk of cardiovascular events in adult statin-treated patients at high cardiovascular risk with elevated triglycerides (≥150 mg/dL [≥ 1.7 mmol/L]) and either established cardiovascular disease or diabetes and at least one other cardiovascular risk factor.
"According to data from the Israeli Ministry of Health, heart diseases are the second leading cause of death in Israel, in both men and women, aged 45 and older.i Heart disease accounted for about one-sixth of all male and female deaths in recent years in Israel.i
"The regulatory approval of VAZKEPA in Israel marks continued progress in our effort to bring this product to patients with residual cardiovascular risk around the world," said Steven Ketchum, PhD., President, Research & Development and Chief Scientific Officer, Amarin. "We are proud of this important milestone in that effort, and that patients in Israel may soon be able to access this important therapeutic option to address their residual cardiovascular risk."
Amarin has partnership discussions underway in this territory and will be preparing for potential pricing and reimbursement in Israel beginning in 2024.
CBB, probably some new business development under the new regime which would give analysts some impetus to revisit Amarin's new dawning.
Certainly, AD has the contacts to say "hey come look at our new company" it's great that he is laser focused on the biotech space and his reputation is well known thanks to his success with the Medicine Company.
meowzo, so here's the deal with the prop desk. Their function is to provide a market for a security regardless if it's on the buy side or sell side. At times when there's a crazy machine buying event that triggers it to buy every share in sight the MM has to go short or hedge the trade so they don't get carried out the door in a body bag. Short squeezes hurt for a MM but for the small retail trader they are basically limited to shorting stock only if the brokerage firm can find shares for retail to borrow if not they can turn to options. The recent events that occurred when the 2 banks were halted over the wkend were scary eventually the brokers marked the shorts to zero but the put traders were holding their breath till the firms instructed them to manually execute the puts. It's the broker/dealers who have all the leeway cause of the different rules applied.
CCB, Stepping back and thinking about your 2 part question, AD owns 25mill shares, and the window for acquiring additional shares has changed. Not sure what the SEC's final ruling was, I'd have to research. My vague recollection is it would prevent insiders from buying shs within a time frame before a material event occurs. I think we have to wait for the proxy meeting and the compensation package to be proposed. I'm hoping the BOD doesn't find some questionable items since the main hdqtrs are in Switz no one really knows or understands how the company actually was run. I'm assuming it was a very loosey goosey operation with a vision of dollars flying out of the windows!
So my question to you is how can AD justify investing more money in a company that needs to be reorganized? Maybe too soon to tell?
Cloudera, nope he's gone.
Meowzo, yes to all above. I grew up in wall street on the prop desk. I always said never trust the dark side of the moon e.g. the other side of the trade.
Stockboy. Yay gone with overpaid executives drain the swamp. Especially IR person Lisa. Useless waste of cash burn.
FFS, your most recent post is full of BS if you don't know what you're implying don't say it on this board. Why do I still see your post I have no idea since I placed you on ignore, oh wait I forgot you suggested the company invest in crypto when it was on the rise a few yrs ago that's when I placed you on ignore. Ignore done again!
johnhan, how about BOLD. LOL
vegas8, I was thinking about taking a drive north to Bridgewater to see if anyone is home!
jasbg, also, fyi PWO has been removed from a few boards recently. The gravy train has come to a halt!
jasbg, it's a BOLD and brighter future now that AD et al is now running the company. I truly believe there's a great future for our company! Thanks for the compliments.
https://investor.amarincorp.com/static-files/dfb8c8fc-6adb-4395-a6f6-1fb53b6dcf05
Looks like KM got his undeserved shares prior to the proxy contest. I forgot about that snafu he pulled the day before.
Sarissa is appalled at this latest act of betrayal of the shareholders by the Amarin board. Sarissa has been urging the Amarin board
to release the results of the proxy contest for several days. The board, however, has steadfastly refused, leaving Amarin
shareholders to twist in the wind. Now we know why the board has opted to sit on this powder keg of information. Late last week
in the stealth of night and right before the General Meeting, the Amarin board disclosed egregious equity grants to executives
representing more than 3.6 million shares. CEO Karim Mikhail was given 70% more in equity grants than last year despite the
horrendous performance of the company under his leadership. If that is not enough, apparently these grants vest solely based on
the passage of time with absolutely no performance criteria.
BBI, JT went to another biotech along with a few other X amarin employees and guess what..... the company Cincor got a BO a few months prior to Kalb joining the company...check out the symbol CINC. What luck. Now JT is more richer do you think the former employees such as James Healy, JT and Michael Kalb knew about a BO prior to them joining James Healy COB who was one of the originals from amarin???? LOL
Jasbg, yes the old guard couldn't wait to get their options and rsu. I recall thinking something was rotten in Denmark ??
robin, that was a Freudian slip. Yes I meant Steve.
robin, if I see a for sale in front of Richard Ketchum's beach house then I'll become concerned. He is one of the few that needs to stay on with Amarin he's worth his salary+options
BBI, I have the feeling that the board and AD found some unwanted data after their deep dive. Ultimatum was offered, please see my prior post. March 31 was the cutoff date for KM's 70% bonus. If I was in the board room I would have given him the boot as well.
KM resigned 3/27 8K filed 3/31. KM probably knew he was getting sacked and started negotiating severance and the BOD said NO WAY JOSE.
https://www.sec.gov/Archives/edgar/data/897448/000119312521113365/d172981dex102.htm
Performance Related Bonus
The Executive will be eligible for a performance bonus of up to 70% of his annual salary (and pro rata for any lesser period) paid annually no later than 31 March based on individual and Company objectives to be set by the Company. Any bonus payment is entirely at the discretion of the Board. The Executive must be in the continued employment of the Company at the time of the payment of the annual bonus to be eligible to receive any bonus payment. In the event the Executive does not assume the position of President and CEO in Amarin Corporation plc on the CEO Start Date, the target bonus will be reduced to 40% of his annual salary as of the CEO Start Date.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000897448/000119312521113365/d172981d8k.htm
here come the lawsuits
Amarin CEO Karim Mikhail Resigns; Dispute Over Severance Pay Looms
MT NEWSWIRES 10:27 AM ET 3/31/2023
Symbol Last Price Change
AMRN 1.5031up -0.0369 (-2.3961%)
QUOTES AS OF 10:32:01 AM ET 03/31/2023
10:27 AM EDT, 03/31/2023 (MT Newswires) -- Amarin(AMRN) said in a regulatory filing Friday that Karim Mikhail has resigned as president and chief executive, effective immediately.
Mikhail claims he is entitled to severance payments as a result of his resignation, the biopharmaceutical company said in a form 8-K filing with the US Securities and Exchange Commission, adding that it plans to dispute.
The company declined to comment on the potential dispute but said an active search for a new CEO is underway.
"An active search for a new CEO is underway. While the search is underway, the Company's leadership team has been and will continue to work collaboratively and directly with the Board to ensure the organization stays focused and moves forward with the existing strategy and objectives," the company said in an emailed statement to MT Newswires.
Amarin (AMRN) shares were down 3.3% in recent Friday trading.
Price: 1.49, Change: -0.05, Percent Change: -3.25
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.