Sorrento Therapeutics Inc (SRNE)

[I-Glow]

SMH! Once again it is the Nefarious MMs that have it in for Sorrento.

Read the Scilex Amended 14A.

"On April 4, 2023, Sorrento Therapeutics, Inc. (“Sorrento”), our controlling stockholder, announced that the U.S. Bankruptcy Court for the Southern District of Texas entered orders compelling specified brokerage firms to produce non-privileged written responses to Sorrento providing certain information related to the record and beneficial ownership of our Common Stock received by Sorrento’s stockholders in connection with Sorrento’s previously announced dividend of 76,000,000 shares of our Common Stock held by Sorrento. The orders were executed in connection with Sorrento’s chapter 11 case, which was filed on February 13, 2023.

As a result of the foregoing, the Company has determined to postpone the Annual Meeting so as to allow additional time for the brokerage firms to comply with the orders, as the Company anticipates that if the brokerage firms comply with the court’s orders, holders of a substantial number of the underreported shares of Common Stock will be able to participate in the Annual Meeting. On April 14, 2023, the Company issued a press release in respect of the foregoing."

So it was Court ordered not the MMs/brokers.

The more the Courts dig around the Sorrento CEO - it could be big problems.

IG