What is also interesting is this article:
Dated 1/161/16 Entitled Letting the Cat Out of the Bag: Circassia is a Short" where it states that Navid Malik turned NW on to Circassian as well as turning NW on to NWBO. And of course Navid Maik worked for Cenkos and was on NWBO's Board. So the question begs how much info did Navid tell NW in order for NW to invest a whopping $180M? Would NW have invested $180M otherwise?
NW has backed numerous Cenkos' floats as per article dated 7/10/2008 in an article by the UK Telegraph entitled Giant Manager Who Paddles with Tiddler. There it says that NW has a 6% stake in Cenkos. And in an article dated 5/18/2011 entitled Invest Picks up Lorry Load of Unwanted Shares, it says "where would Cenkos Securities be without NW? Invesco's Perpetual's star fund mgr and the stockbroker's biggest institutional investor, ha has a 15% stake, has mopped up another Cenkos led fund raiding at a more generous price than that running in the market".
So Invesco and Cenkos and NW & Navid Malik and NWBO seem to be very intertwined wouldn't you say. It becomes obvious how NW hopped on NWBO via Malik. But now Malik is gone from Cenkos but still with NWBO and now NW wants to be gone from NWBO but can't due to a current low share price and an incredible high unrealized losses unless he sells now.
So the question begs does the firing of Malik by Cenkos have anything to do with NW coming down hard on LP & NWBO. I mean NW knew of everything before hand, probably knew more than any of us did, not to hard to do your DD when you have Malik working with both Cenkos and NWBO and you already are an owner in Cenkos and want to own NWBO too.
So if Cenkos didn't like Malik then one can assume NW didn't either, and probably Cenkos isn't going to like LP & NWBO either, so where does that leave NW? Isn't that when NW did an about face and turn on LP & NWBO, only blaming his switch to Phase V and not to the firing by Cenkos of Malik.
And don't forget LP & NWBO tried to make nice with NW and invited him into their hen house, and of course that is when NW sent the Wolf of Ondra Partners (who has had relationships with Cenkos & Invesco) to get info. Incredibly isn't it, he had to know of Wolf's prior history with LP & NW; and remember that is when NW wanted to hire his own experts Freeh and company with relationships with NWBO's competitors.
So this begs another question. Would a big investor feel uncomfortable after investing $180M in Co A due to a relationship with a certain someone when that certain someone is fired for allegedly dealing privately with Co A. Would that big investor not only want to fire that certain someone but also go after Co A too?
To me it says something very interesting about LP wanting Malik to remain on the board, almost snubbing NW and saying we won't let you tell us who to have a relationship with. As far as I know the alleged gift or whatever it is called to Malik by NWBO is chump change. Malik earned his weight in getting NW to invest in NWBO. And remember Malik had to have a stronger relationship with Cenkos then with NWBO, if one bases it on years only at the minimum. Same can be said of Malik's relationship with Circaissa vs Cenkos. It appears Malik is just doing his job with Cenkos and because NW has a very strong relationship with Cenkos, NW benefits greatly from that relationship. And Malik finds a biotech he believes in, NWBO, again being on the board just makes him that much the wiser, again following his beliefs.
This is remindful of the 6 degrees of Kevin Bacon only substitute NW for Kevin.
This is all my opinion, and the source info are all named above but man can one make a thriller about all this stuff called the Firm written by John Gresham?
IMHO the one who doesn't look good here is NW.
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