The problems that we discuss are being addressed directly in a court case filed by NorthWest Biotherapeutics NWBO. The troublesome issues are most pronounced in the small cap biotech arena. The following is a comment placed on the NWBO board where the harms are being addressed and the plaintiffs are attempting to have the corruption become specifically delineated.
“We all agree that spoofing of any company developing a life-saving treatment and the associated naked shorting which it facilitates is reprehensible in the extreme.
We all know that this results in a depressed share price (and hence the value of the company).
We all know that a Nobel Prize winning economists affirms that this is not a transient phenomenon but has long term effects on the share price.
In the submission by Cohen Millstein against Market Makers, Citadel and other hedge funds, the claim is made that:
The company believes that the market makers directly impacted the price of Northwest Biotherapeutics’ shares in the market .... causing Northwest Biotherapeutics to suffer significant losses as it sold millions of shares at artificially depressed prices and was slowed in bringing its encouraging drugs to market.
I would like to ask 2 questions:
1] Is there any actual evidence that spoofing or any form of shorting has ever resulted in a delay in obtaining regulatory licencing for a therapeutic, and specifically for DCVax-L?
2] If there is such evidence, can the delay to the licencing of DCVax-L be quantified?
If there is a quantifiable delay, I would hope that Ms. Posner of Cohen Millstein would provide Judge Gabriel Gorenstein with a fairly accurate assessment of how many patients in the USA died from GBM having been denied the possibility of curative treatment with DCVax-L because of the delay in its licencing consequent upon the illegal spoofing.
One would certainly hope that with such information, the case would go to trial so that the defendants could not buy their way out of being exposed for what they are and that this would allow Judge Gorenstein to make the punishment fit the crime.”
Thanks
