Avid Bioservices Inc (CDMO)

[skweze]

I would agree that the Class Action has no merit. Amendments like "A chimeric antibody is named after a chimera, the Greek mythological fire-breathing female monster, with a lion’s head, a goat’s body, and a serpent’s tail." may be interesting footnotes, but don't appear to carry enough weight cure the defects in First Amended Complaint. To borrow from the legal vernacular, it looks like complete bull dung. (Again, that is merely a laypersons perspective.)

OTOH, financiers and partners presently in negotiation could want to see the lawsuit dismissed before inking deals going forward. And (among other reasons) if that theory holds any weight, prices at this level are a bargain.

Please, the class action complaint (note it is still a complaint, not even a lawsuit, since it has never gotten past the motion to dismiss stage) is a non-event, non-starter and certainly not newsworthy (the company did not bother to PR the amended complaint which indicates the magnitude of its possible effect on the company - zero). The 87 page second amended complaint has more value as birdcage liner than stating a cause of action. Developments in the class action complaint are not driving the share price action.