>>The DNDN non-disclosure problem is compounded by the fact that in the 10K issued in March and signed by every Director escept Susan Bayh, they not only fail to list the preapproval inspection and its outcome in the Section describing Ongoing Regulatory Activity, but describe the requirement for the inspection as something that hadn't occurred yet. Both the CEO and the CFO certified the 10K per Sarbanes Oxley as being materially accurate.
Out of curiosity, so you know why Susan Bayh did not sign it? Was this typical for her or unusual? (Or was she just not there at the time.)<<
this is perhaps unrelated, fwiw, but i sent an email (via dendreon's ir) to Susan Bayh's specific attention, in her capacity as an independent DNDN Director & Corporate Governance Committee member (and wife of a US Senator with possible political influence), on Mar 26 regarding Dendreon’s appearance on the Reg SHO list and asking her specifically as an independent Director what if any response the company was planning to combat the increased dilutive impact their Reg SHO appearance might have on their then recent $148M shelf filing.
I followed up that unacknowledged email on April 13, again without receiving an acknowledgement. I sent a 2nd follow-up (3rd email) on May 6 and on May 8th (the eve of Black Wednesday) I received a reply from Monique Greer advising my enquiry had been passed on to their legal department and I have yet to hear anything further (& since sold all of my shares).
Needless to say, after the events of May 9th, I found it rather ironic that I would receive a reply (which was closer to an acknowledgement) to my 3rd email the day prior (at 3:34 pm pacific time to be exact) – coincidence or did they then know that they would be needing to refer a lot of emails to their legal department? Now learning that Bayh didn’t sign the 10K filed in March makes me wonder whether as an outside director who is also a member of DNDN’s corporate Governance committee, her apparent “missing in action” status is by design?
as for the lawsuit, fwiw, I called for Gold to resign back in Dec 2005 after the poorly priced secondary & his actions since then (accepting a bonus for the 2005 discounted secondary, not supporting the stock at its lows in April/May 2006 with market purchases using his own funds, another discounted financing in Nov/06, forgoing partnership & thereby delaying 9902B enrolment & European/asian approval, insider selling immediately after the AC panel vote followed by the announcement of the 483 non-disclosure lawsuit, etc.) have done little but support my initial call imo. If this lawsuit is able to unseat him as CEO, I think that would be a positive development for DNDN and its shareholders.
AI
