NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

I was actually on the conference call with the lawyers yesterday. I simply accessed the call using the Pacer Monitor posted dial in number, access code and password.

It was a pretty quick call, and yes, I had to identify myself which I did. The other lawyers allowed me to remain on the call - after the judge asked if any of them objected to my presence - which they made clear they did not.

I know the lawyers for Linda and NWBO and for Cognate were present, as they identified themselves, but I don’t recall any lawyers for Yonemura identifying themselves. However, there were at least 11 people on the call, and only 5 or so said their names. So either I missed them, or they chose not to speak up. I was the only shareholder on the call.

The judge made the comment that she doesn’t usually let cases just stay on a continuous basis and she wanted some guidelines as to when the parties would arrive at their settlement. She made mention of a Rule 1-11 and asked if the lawyers were familiar with it. N. Porritt for LP said that they were but felt that because this was not a straight settlement and instead involved derivative claims, that rule didn’t apply (whatever on earth that means).

Apparently, settling the Yonemura case is dependent upon settling the Terrice Tharp and Clarence Henkel case in the Chancery Court in Delaware. I believe the settlement for one should be the same for the other, after which the judge will dismiss both cases.

http://www.andrewsspringer.com/files/NWBO%20Complaint.pdf

The attorneys indicated that they were two weeks (or so) away from settling the other case, upon which it would take about 60 to 90 days for the attorneys to issue a joint status report to the Yonemura judge, and to give her time to dismiss this case as well. I hope I’m stating this correctly because I’m certainly not a law clerk or a lawyer.

The judge was pretty at ease with everyone. She was somewhat laughing as she indicated that unless something really big happened to prevent that, it was clear she thought she would be dismissing the case within a 120 days. And the other lawyers laughed and indicated they didn’t think anything big would prevent a settlement at this time.

The types of lawyers that sue small companies like NWBO have made a booming industry out of lawsuits like these. If there is no case, they will continue these cases as long as they can, tying up the time of the defendants for the purpose of settling for at least their fees.

So rather than continue to play that game, most companies, including NWBO, have insurance policies that will cover the legal fees of the plaintiffs in order to send them on their way and be rid of them. That’s what the insurance is for. So I would anticipate that the settlement for both cases will be to cover the legal fees for the plaintiffs, and nothing more.