NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

Ready... I'm not really sure we can say the allegations are unfounded. Kathryn Wolf went to NWBO presumably to participate in a program to increase shareholder value. Meanwhile, and unbeknownst to NWBO, she is sitting on the board of a company that is being sued by Cognate.... primarily due to their contention that the primary defendant accessed Cognate's computer systems without authorization and copied Cognate's proprietary materials... which he then handed over to MacroCure.

Now I don't know about you, but I would be pretty angry to find out that someone from Ondra was also sitting on that company's board... and was actually sent by Ondra to work directly with me on how to improve share holder value. This should have been disclosed from the beginning, don't you think?

I'd be especially irritated to find this out AFTER I'd sent Ms. Wolf home with confidential files and shared confidential information with her upon which she'd taken copious notes of.

I don't see how you can say that's unfounded. I'd like to think Neil Woodford agrees with this. If he doesn't, I'd be very interested to find out why.


From Flipper's link:
http://www.leagle.com/decision/In%20FDCO%2020150924A42/Cognate%20Bioservices,%20Inc.%20v.%20Smith

I. BACKGROUND

From 2003 until May 2010, Defendant Alan K. Smith ("Smith") was employed as the CEO of Cognate. (ECF No. 100 at 8.) While employed by Cognate, Smith negotiated a contract between Cognate and MacroCure related to the development of an "immune cell wound-healing product known as `CureXcell.'" (Id.) The relationship between Cognate and MacroCure to develop CureXcell, however, did not come to fruition. Instead, after leaving Cognate, Smith worked as a consultant for MacroCure on the development of CureXcell. (Id.) Cognate alleges that while Smith worked as a consultant for MacroCure, he accessed Cognate's computer systems without authorization and copied Cognate's proprietary materials, which he then produced to MacroCure. (Id. at 9.)

The original complaint that Cognate filed on June 19, 2013 named two defendants: Smith and Alan Smith Consulting, Inc.2 (ECF No. 1.) On May 27, 2014, Cognate sought leave to file an amended complaint that, among other things, named MacroCure as a defendant. (ECF No. 36.) On June 9, 2014, while Cognate's motion for leave to file an amended complaint was pending, the Court granted Cognate's motion for the issuance of a letter of request pursuant to the Hague Convention on the Taking of Evidence Abroad in Civil or Commercial Matters. (ECF Nos. 37 & 42.) The Court's Letter of Request (ECF No. 42) sought the assistance of the Israeli Directorate of Courts (the "Israeli court") in obtaining certain discovery from MacroCure, which has its principal place of business in Israel, related to Smith's work for MacroCure. In general, the Letter of Request seeks documents and information in the possession of MacroCure that are likely to show whether Smith improperly accessed Cognate's computer systems, misappropriated Cognate's proprietary materials, and communicated Cognate's proprietary materials to MacroCure. (See ECF No. 145.)