Avid Bioservices Inc (CDMO)

[north40000]

Thanks for the link to the New Yorker article, djohn. I have 2 reasons for reading it and finding it significant:

1) Cohen’s family fund has made a large investment in CDMO, currently one of our largest investments in both capital that we have invested and today’s market value. Our ~ 55k shares have returned to a diminished LTCG state at $7.63, but nowhere near where we were a year ago at a CDMO share price of ~ $18.60.

2) One of the SDNY prosecutors mentioned in the article is Richard Zabel. He is the son of Bill Zabel, one of my high school friends who entered Princeton University in 1954 and accounts for my interest in Princeton. At his urging, I applied to Princeton in 1955, received a scholarship, but got a better scholarship from Northwestern where I graduated in 1959. I accepted the TRI fellowship I received from Princeton for graduate school, and my degree there followed in 1962.

Last I heard/read about Bill, he was a named partner in that powerhouse NYC law firm where he specialized in trusts and estates, and wealth management. He was one of the attorneys representing the wife of Jack Welch, former GE CEO, in her battle for fair estate value in that highly public divorce matter following Jack’s “escapades,” different perhaps from the “less public escapade” we find CDMO has caused us to be in today.