My research on Denner showed me the Biovertia - Sanofi insider trading info but also I was aware of the Medicine Cos sale. Amarin should have been sold a long long time ago. Previous management really dropped the ball (that is not forceful enough language to the lack of fiduciary duty they exhibited) wrt patent/sales protection for their only product and of course self-serving themselves with a GIA strategy. So along comes a guy that can be considered unsavory, but has a record and a stated desire of finding a buyer and someone who piles his own money into the investment. There is a word somewhere for doing the same thing over and over again with the same disastrous results. As much as Denner has been a disaster here, I don't think any person can make a logical argument that we wouldn't be sitting at 44 cents anyway if Denner had never showed up.
Plus, (maybe not) but there might have been reason to believe that once a person such as Denner had paid a tidy sum to settle (yeah he probably netted more) that maybe he would be more careful about doing unscrupulous things. Remember, too, that when Denner was squeezing himself onto the Amarin scene, the Bioverativ suit was no where near completion and in 2022 it might not have been very clear who did what. Here is what the attorneys stated after the settlement (alluding to how this would protect us shareholders going forward - what a laugh):
"Upon approval of the final settlement, partner Randall Baron observed that “our client showed tremendous courage and fortitude in rejecting an early offer that would have benefited him but not other Bioverativ stockholders, and then pursuing this case to the end and to a historic result. I think there’s also an important lesson here – when corporate directors use their position of trust to benefit themselves instead of the stockholders they serve, they will be held accountable.”
Robbins Geller attorneys Randall Baron, Rick Atwood, and Christopher Lyons litigated the case with co-lead counsel at Prickett, Jones & Elliott P.A., and shareholders were led in the case by anesthesiologist/investor Stewart N. Goldstein, M.D."
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