imo SK does not understand his responsibilities to shareholders... whether it's because he has no clue given he came from the lab or whether he is surrounded by some bad actors ....
his own admission of the disconnect in share price is telling...
mgmt has gone out of their way to make the company institutionally unfriendly and the last boot from the russell is an example... (the first boot where lyte sold 300k worth of shares on rebalance day so to miss the russell is another prime example)... the cc in feb where he was suprised .. what an acting job.... they knew well before what the surprise was... and the stock has been held in a 4 decimal place death grip since then feb 26 with the aw shucks the dog ate my paper attitude..
why would they do this? simple.... they took over when ES "saved" the company... they had no ownership and over the years have transferred ownership to themselves and kept the company below the radar so they can get the shares as cheap as possible at the expense of shareholders.... dilution does not matter to them imo...
the current DS which is active spells out some of the activities of mgmt in this regard..
ASHER MICHAELI and DIANA
SMITH, derivatively on behalf
PEREGRINE PHARMACEUTICALS,
INC. and individually on behalf of
himself and all other similarly situated
shareholders of PEREGRINE
PHARMACEUTICALS, INC.,
Plaintiff,
C.A. No. 8994-VCL
VERIFIED AMENDED AND SUPPLEMENTAL STOCKHOLDER
DERIVATIVE AND CLASS ACTION COMPLAINT
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