Amarin Corp Plc (AMRN)

[dogn]

Some ST posts worthy of consideration

Long 16,650 shares @$5.03, as frustrated by 65% paper loss as everyone, have been hopeful Denner/Sarissa can help restore share price.

Believe these interesting posts on ST merit discussion, at least all AMRN investors should be aware of them. Some healthy caution regarding how Sarissa operates may be warranted, as these made me concerned whether their interests are 100% aligned with those of shareholders seeking to maximize value of the Vascepa/Vazkepa asset over the long term.

Basically as I read it, plaintiff in cited Delaware case alleges Denner helped negotiate and profited from a sale of Bioverativ at ~2/3 of what company's projections estimated value to be ($150), while not disclosing to board relevant timing of his $90M share purchase or prior conversations with bidders.

Positives at least are that with these insider trading allegations revealed, Denner will proceed more carefully and ethically.

Also, I was unaware of the following SEC provision that may provide insight as to why Sarissa has not purchased more shares at these low prices:

The court noted that Mr. Denner’s change of heart appears to have been timed so that a sale transaction would not trigger the six-month short swing profit recapture rules under Section 16 of the Securities Exchange Act for the shares Mr. Denner and Sarissa purchased after Sanofi’s initial approach.

My DD says the knight's armor may not be as shiny as we thought, and we should be careful about blindly throwing our support in line with whatever he does. I personally like the bios and experience of the new BOD nominees and while initially voting abstain to support Denner, changed my proxy votes to yes because extensive review by the Delaware court has denied the motion to dismiss, finding these allegations have sufficient substance to proceed. The ethical lapse of not notifying other Bioverativ board members of his massive share purchase and his private conversations with Sanofi reps while he was on their board raises red flags to me.

Others are entitled to their own interpretation. GLTA.

The arnold porter link provides a useful summary, but I've only begun to browse the 124 page court opinion... intend to peruse more fully to gain better understanding of this.

https://stocktwits.com/CantDrive55/message/466773035
https://www.arnoldporter.com/en/perspectives/advisories/2022/06/goldstein-v-denner-delawares-latest-guidance

https://stocktwits.com/CantDrive55/message/466771580
https://courts.delaware.gov/Opinions/Download.aspx?id=333380

https://stocktwits.com/CantDrive55/message/466771830
https://news.bloomberglaw.com/esg/bioverativ-insider-trading-claims-advance-over-12-billion-deal