Avid Bioservices Inc (CDMO)

[senrex]

cheynew....unless this debacle reverses very quickly, it will be difficult for King and the Board to survive. King, especially, would have failed in his fiduciary duties to shareholders.

Scenario 1: Class action suits (and believe me, they are pending...King has given plenty of ammunition to question his veracity if the share price reflects internal problems that should have been exposed) will be fought to the point of using up sufficient resources to bankrupt the company.

Scenario 2: In order for class action suits to be dropped (because the plaintiffs can't get blood out of a stone), King will be forced to step down and the Board will be replaced.

Even after 11 years of frustration, I must say that, given King's recent spate of rosy outlooks, it's difficult for me to believe that this decline in share price is legitimate (of course, it doesn't have to be if there are hedge funds cooperating to destroy the company).

I just scratch my head.