Amarin Corp Plc (AMRN)

[marjac]

raistthemage, the main focus of my research and due diligence has been focused on recovering monetary damages for both investors and the company, as these are the most viable judicial remedies. I will certainly keep the Board in the loop as these activities progress, but it must be kept in mind that these kinds of cases are extraordinarily complex with all kinds of procedural pitfalls for the unwary.

In terms of seeking judicial removal of Thero/Kennedy/BOD, it is a very tall order. Even "bad decisions" are protected by the business judgment rule. A court will not substitute its business judgment for that of management. A derivative plaintiff needs to prove fraud, self-dealing, and/or breach of fiduciary duty when seeking these types of remedies. Management is given deference by the courts.

In any event, such legal actions cannot be rushed. Shareholders usually lose these cases as a result of the legal burden mentioned above. So I will quietly keep doing my research and due diligence, and proceed as is appropriate.