Replies to post #32138 on Decision Diagnostics Corp (DECN)

[ksuave]

Those lawyers must charge a heck of a lot, or the settlement couldn't have been very big.

[scottsmith]

Certainly possible, Millstone. The PR indicated some for offense and some for defense. But I think most is for offense.

[diannedawn]

KB is on TAUG's BOD now...so the "great news" was being hyped over there too...
I ROTFLMAO reading this part...
"J&J will pay the company for their actions a cash settlement in an amount that has been made confidential by the court" (of course)

"Although the company believes we had been justly compensated through the settlement, and extended litigation may have expanded the amount, we came to the realization that our singular immediate objective was manufacturing and delivering low priced, quality strips to diabetics" (cough)

"the entire cash settlement award from J&J has been directly transferred at our request into this fund, maintained by our counsels" LOL!


Thought I'd come here to see how the stock was reacting to this "awesome" news...
YIKES!

I think your explanation is probably correct...

Reading over the press release again, my guess is that the attorneys litigating the JNJ Nevada case have required a retainer to move forward with the suit. While Berman spins it as a choice, I think there was no choice involved: either put the settlement cash into an account for the law firm as a retainer, or we cannot continue to work on your behalf.

So DECN's "big win" and all the $$$ go into the attorney's pockets???

I'm guessing that "cash settlement" was really not all that large anyway...

Too funny!

WAY TO GO KB!!!