Replies to post #61500 on Anavex Life Sciences Corp (AVXL)

[MinnieM]

There's no way to know what the "market" thinks about the SEC investigation. At least, I wouldn't say it is clear what the subject of the investigation is or isn't. Following shows what the company has to say about the SEC investigation in their 10K:

http://www.sec.gov/Archives/edgar/data/1314052/000161577415003756/s102397_10k.htm

On December 22, 2015, the Company received a subpoena from the Securities and Exchange Commission (SEC) which indicates that the agency is conducting a formal investigation. The Company believes the subpoena and investigation relate to the recent unusual activity in the market for the Company’s shares. The Company is fully cooperating with the SEC in this investigation and is unable to predict when this matter will be resolved or what further action, if any, the SEC may take in connection with it.

The doc filed on 4.11.16 by Anavex in the Cortina case and listed as #57 was simply a routine proposed schedule. I don't read anything into the judge's response filed on 4.13.16 other than it ends up giving Anavex quite a bit less time to respond to the amended complaint once it gets filed.

MEMO ENDORSEMENT on re: 57 Letter, filed by Christopher U Missling, Anavex Life Sciences Corp, Lam Truong, Athanasios Skarpelos, Sandra Boenisch. ENDORSEMENT: Application GRANTED, except that Lead Plaintiff shall file his amended complaint within 30 days - not 45 days - of the date of this endorsement and Defendant shall file any reply within 14 days - not 30 days - of the filing of Plaintiff's opposition. (Signed by Judge Jesse M. Furman on 4/13/2016) (tn) (Entered: 04/13/2016)

We just need to watch the process wind through the courts. Another issue to watch for is whether or not the Campbell case gets consolidated with the Cortina case? I suspect they will end up consolidated.

What's going to take longer than the courts is the SEC investigation. I'd love to know what it's about, but, that usually takes years to see those results published by the SEC.








In Reply to 'ipulator_man'
It's been way past 90 days since the subpoena and now clear to the market that the company was not the subject of an SEC investigation.

How's that CA suit going Karen? Does this latest entry indicate Judge Furman intends to expedite the matter?
https://www.pacermonitor.com/public/case/10241340/Cortina_v_Anavex_Life_Sciences_Corp_et_al
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