My guess is you are making some brilliant assumptions on the amended complaint. IMO the meat of the complaint is in two parts:
1. PPHM was untimely in releasing the news re coding error . This is very difficult to prove and already rejected.
2. That PPHM failed to release the initial results as "preliminary". "Preliminary" in this sense means not "final". I do note that PPHM used the word "interim" in their initial release. "Interim" also denotes not final so I think this case is weak and will be thrown out again.
My legal friends tell me that by allowing time for an amendment there can be no cause for a "procedural" overturn. The second time this is dismissed it will be final and irrevocable. Expect PPHM to answer the amendment shortly and somewhat thereafter for this lawsuit to be terminated. In any case, it is not important to outside negotiations as any potential partners with PPHM would be "held harmless" from this kind of suit and secondly, expect termination date to be prior to collaboration.
IMO you are making a good guess in that somewhere in the complaint the plantiff is referencing a potential partner and partnering discussion for PPHM as a reason for not releasing the results properly??? This is a weak argument but it may be one PPHM might believe interferes with current discussion. At least that is possible.
Lest you think I am completely in agreement with you on all things, I still can not understand how someone who can be so smart about so many things is so colossally stupid IMO on the subject of dilution. You have written many, many times on the subject of dilution and IMO you are wrong every time not only from a classic accounting point of view but also from the practical point of view that the ATM itself is self defeating and depresses the stock making future ATM sales even more dilutive.
What's worse is you are not even approaching the subject from the right direction. Instead of trying to justify managements' decade long persistant use of the ATM to the point of addiction, you should use some of your brilliance to investigate alternate means of finance of which there are many. Write half as many times on alternate means of financing and I will start to take you quite a bit more seriously instead of as just a mgmt apologist. Their way is not the only way.
Best Regards,
RRdog IMOO
