Biotech Values

[DewDiligence]

ECTE—Winning a proxy fight doesn’t necessarily result in a clean house:

http://finance.yahoo.com/news/disturbing-self-dealing-repudiated-echo-211400262.html

…the inexplicable and damaging recent conduct by directors Vincent D. Enright, William F. Grieco and James F. Smith (the "Lingering Directors") leads Platinum to believe that future action to remove the Lingering Directors for cause is likely necessary. To that end, Platinum announces it is scheduling a stockholders' forum…

…In addition to the all-important strategic plan for turning around the Company, anticipated subjects include the continuing conflicted conduct of the Lingering Directors and the deeply troubling fee-shifting bylaw they unilaterally adopted over the heated objections of the Independent Directors. The meeting will be webcast…

The alleged self-dealing by the “lingering directors” includes new compensation and indemnification agreements they enacted for themselves just prior to the proxy fight at the annual meeting on Jun 18.

Might be worth listening to the webcast for the entertainment value.