Agreed. Reading through the judges opinions on why she granted the motion to dismiss is great. It was a very strong opinion on all points and shows what utter nonsense the class action was.
Filing frivolous suits appear to be a numbers game for Rosen. All his firm needs is a few successes annually and they do great. They don't appear to care how many companies they take down along the way. That's why I see the filing of complaints against Rosen/Kim as very important. This behaviour and method of doing business needs to be stopped.
In Reply to 'tykundegex'
Just read through the court's entire judgement. It's as scathing as the original attack was. A great read.
Below is a list of the section titles alone, from the court's ruling. It's hard to imagine a law firm so incompetent (or dishonest?) as to "fail" at every single one of the claims in their original filing.
Great victory for CTIX shareholders. Greater victory for the investment community overall.
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Defendants’ Request for Judicial Notice Is Granted in Part, and Plaintiff’s Request Is Denied as Moot
Plaintiff Fails to State a Claim for Securities Fraud
Defendants Are Not Liable for the False Statement in the Future Woman Article
Defendant Ehrlich Adequately Corrected the False Statement Made in Cellceutix’s 2009 Form 10-K
Plaintiff Has Failed to State a Claim Based on Defendants’ Statements Regarding Brilacidin
Plaintiff Has Failed to State a Claim Concerning Brilacidin’s Gram-Negative Coverage
Plaintiff Fails to State a Claim Regarding Brilacidin’s Antibiotic Properties
Plaintiff Fails to State a Claim Based on Defendants’ Statements Regarding Kevetrin
Plaintiff Fails to State a Claim Regarding Defendants’ Representation of p21 as a “Biomarker” in Clinical Trials for Kevetrin
Plaintiff Fails to State a Claim Regarding the Kevetrin Trial Patient’s Outcome
Plaintiff Fails to State a Claim Regarding Defendants’ Failure to Disclose Material Risks
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