Radient Pharmaceuticals Corporation fka RXPC

[lakeshore555]

"YOU HAVE TO PROVE DAMAGES..." I'm not sure what you are trying to say here. Isn't that the fundamental basis of every class action?

Yes, I have studied a little law. And I recommend this as reading for everyone:

http://securities.stanford.edu/filings-documents/1046/RPC00_01/2013517_r01o_11CV00406.pdf

Excerpt of particular interest:

"MacLellan told Ariura to put together a few paragraphs of what would eventually the January 18 Press Release. PF 52. An early draft touts the study as Radient’s “latest Onko- Sure Trial,” describes plans for Radient to merge its Onko-Sure data with CEA data from MVSS, and makes one reference to the Mayo Clinic, noting that two doctors from the clinic would decide how to best communicate any resulting data. Kim Decl. Ex. 20 at PK 296. Staff at Radient circulated drafts by e-mail, and noted “(no mention of Mayo)” in the e-mail subject line. See, e.g. , id. at PK 295.

"A later draft, from January 15, 2011, makes no reference at all to Mayo and also refers to the study as the “Onko-Sure Trial.” Id. at PK 297.

"A draft from January 12 did make clear references to Mayo. It had the following relevant text (in bold) after MacLellan’s comment (that made it into the January 18 Press Release) about having reached “this important milestone”:

"Collaboration with Mayo is critically important to the commercialization strategy and plan for Onko-Sure. To have internationally recognized leaders in oncology evaluate Onko-Sure is a testament to the importance of our test. It is
also a boost for RPC to be involved and collaborate with such a prestigious cancer center like Mayo. We look forward to the long-term impact this could have on patient care as well as our business model.

"Before the January 18 Press Release went out, both of Radient’s scientific employees involved in the study, Drs. Small-Howard and Afsaneh Motamed-Khorasani, raised worries about it. Motamed-Khorasani e-mailed a public relations employee, as well as MacLellan and Ariura, and noted that Radient had still not paid for the study, and that “I think we need to pay Mayo first before we can send out the press release with their name on it.” Kim Decl. Ex. 10 at PK 118. Small-Howard, who was copied on the e-mail, replied to all agreeing that “Mayo is not in a favorable mood,” and that “We should consider the future implications of a press release at this time,” given the earlier e-mail in which MVSS expressed frustration with Radient over nonpayment. Id. Despite the fact that the Collaboration Agreement required MVSS or Mayo Clinic’s approval before using their names in a press release, PF 65, MacLellan went ahead and told his employees to issue the press release. PF 68."