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Tuesday, July 09, 2019 11:12:12 AM
I'd suggest, shareholders to contact this law firm (Rosen Law, Securities Class Action) and fill-out their online complaint form and file a class action suit against ADXS.
Don't be deceived by the company's cash position- they carry massive insurance and there are "claw backs" that a good law firm can make. Getting something back is better than watching this head to BK, which is where they are going.
And the claims are 100% valid- despite what anyone will claim or say. Sr Mgt fiduciary duty(s) for a listed stock, is a valid legal claim just in and of itself. ADXS has a dozen or more issues that rise to the level of a shareholder class action, easily.
https://www.rosenlegal.com/
Click in "REPORT A FRAUD" button and write till one's heart is content..
Cite:
1) Over inflation of clinical trial potential and grandiose PR regarding potential of same (doc and other years)
2) Grandiose valuations hyped by CEO (Doc and the $6 billion nonsense to name one)
3) Gross breach of fiduciary duties by Sr Mgt such as building a manufacturing facility and staffing the company heavily only as a means to project themselves as "The best place to work in NJ" and get an "in" with local political figures and tax plan kick-backs for hiring, despite no need to grossly inflate their head count
4) Gross mis-management of funds ($200 plus million burnt with nothing to show for it), via wonton spending on programs only to be scrapped later w/o explanation and never progressing, despite PR hype to bait new shareholders.
5)Continual PR baiting and leading of shareholders as to supposed "deals" and "term sheets" or "agreements" to be signed, that never materialized, and in fact, never were going to ever materialize.
6) A history of self enriching insiders via on-going stock splits and horrific cash raise deals, while producing literally nothing of value, and near total losses to the common shares; yet continually dishing out large cash bonuses and "other" incentive compensation for Sr Mgt at a time when the stock produced record losses.
7) Continually hyping and promoting themselves as a "late stage biotechnology leader" when nothing was further from the truth. False advertising claims and more PR hype to artificially sucker-in new shareholders, or give false hope to shareholders w/ tremendous losses.
8) The highly suspicious exit of DOC and then installment of Lombotomy as "interim CEO" with no proper explanations ever given, and the fact DOC walked away with a large chunk of the company, etc. Stinks of gross fiduciary violations and failure at proper disclosures.
I'm sure many others can add a great deal of salient points to that list- there's a solid case to be made to sue this company in a securities class action for the common shareholders.
This was not some ultra high risk OTC penny play stock where people were taking a known gamble/risk on a long-shot lotto play. This was/is a NASDAQ listed company that continually pitched themselves as "World class leaders in their space" etc. They did not pitch it as a ultra high risk play- just the opposite. Continual baiting of "deals are imminent" with major pharma players and "We are cutting edge in regards to the science" etc.
Again, not a high risk OTC play where people know they're gambling for all intents and purposes. A NASDAQ stock required to meet the highest levels of fiduciary duties and responsibilities = ADXS.
Rosen law is the biggest and most successful securities class action firm in the country.
Rosen Law will take all inquiries seriously and will investigate it, guaranteed.
The shareholders have rights to recover losses here via gross negligence, among other SEC violations by ADXS Sr Mgt.
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
Recent ADXS News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:13:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 09:30:45 PM
- Form DEFM14C - Definitive information statement relating to merger or acquisition • Edgar (US Regulatory) • 03/05/2024 01:16:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:30:46 PM
- Form PREM14C - Preliminary information statements relating to merger or acquisition • Edgar (US Regulatory) • 02/20/2024 10:22:48 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:26:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/12/2024 07:16:21 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 02/12/2024 04:58:05 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 01:27:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/09/2024 10:15:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 01:51:21 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 01/03/2024 09:18:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2023 02:04:41 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/21/2023 02:00:50 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 02:00:30 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 09:04:59 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 11/08/2023 09:01:18 PM
- Form 3/A - Initial statement of beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 11/03/2023 03:46:10 PM
- Form 3/A - Initial statement of beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 11/03/2023 03:45:26 PM
- Form 3/A - Initial statement of beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 11/03/2023 03:43:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/31/2023 11:08:02 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 10/31/2023 11:05:10 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 10/23/2023 10:45:21 AM
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