Avid Bioservices Inc (CDMO)

[jakedogman1]

seems to me everything the bod has done over the years has been to entrench themselves and block any change... and I would not be surprised if any CA agreements placed restrictions with any partner discussions...


http://ir.peregrineinc.com/secfiling.cfm?filingID=921895-17-2252&CIK=704562

On May 2, 2017, Mr. White received a draft confidentiality agreement from Mr. King.

On May 3, 2017, Mr. White informed Mr. King that, due to Ronin’s serious concerns regarding the Company’s corporate governance and its strong belief that changes are required to the composition of the Board, Ronin is unwilling to enter into a confidentiality agreement that could jeopardize its ability to effectively seek to make the changes that it believes are necessary to improve Peregrine for the benefit of all stockholders.

On May 4, 2017, Mr. King sent an e-mail to Mr. White requesting that Ronin reconsider its position with respect to entering into a confidentiality agreement.

On May 5, 2017, Mr. White received an e-mail, in response to his May 1 st correspondence, from the non-employee directors of the Board indicating, among other things, that they are unwilling to discuss changes to the composition of the Board. Also on May 5, 2017, Mr. White sent an e-mail to the non-employee directors explaining Ronin’s belief that changes to the composition of the Board are necessary to create stockholder value and that stockholders would be receptive to the idea of change.