Avid Bioservices Inc (CDMO)

[skweze]

Class Action suit notice of appeal filed on 5/29. Given the utter frivolousness of the case as demonstrated by the Trial Court's multiple dismissals of the twice amended complaint, one has to wonder precisely why the plaintiffs attorney calculates that she can "elicit" a settlement through such vexatious machinations. Surely, she can not reasonably anticipate that the Court will ultimately rule in her favor on the merits of this nonsense.

Moreover, since the plaintiffs appear to have had inside knowledge about the partnership discussions with AbbVie, one has to wonder precisely why they now appear to calculate that company would buy them off simply to avoid further legal delays. (It would be ridiculous to conclude that the company fears an adverse ruling.)

Given the tenor of the Trial Court's memorandum dismissing the thrice discredited complaint, shareholders should hope that the company moves for judicial sanctions against this sham litigation.

As a matter of sound public policy, courts need to put an end to this kind of flimflam crap!