NorthWest Biotherapeutics Inc (NWBO)

[Bored Lawyer]

I often tell my clients that 9 times out of 10 the law and common sense align, but it's that one other time that is the reason I am employed.

Securities is not my primary area of expertise, but I believe the company might not be obligated to correct the disclosure in the prior example (10 days 100 days).

https://www.kattenlaw.com/files/upload/Disclosure_Duties_Arising_Under_Section_10B_When_To_Correct_Or_Update.pdf

The first paragraph under Section I, Duty to Disclose, is particularly informative. See below

“[F]irms are entitled to keep
silent (about good news as well as bad news) unless positive law creates a duty to disclose,”13 even if it
is information “a reasonable investor would very much like to know.”14

Since there is an exception in Reg FD for disclosures made under an NDA, I am not sure there is a positive duty for NWBO to disclose, even if it is information we'd very much like to know! Sometimes the law and concepts of "fairness" don't align either.

Good luck to all.