Pharma, you want the real reason for the "investigations" or the supposed reason? The real reason is that some shorts use law firms as a tool, whether the claims have merit or not. The supposed reason is the mistaken premise that management granted themselves options knowing of undisclosed information, and thus breached some imaginary fiduciary duty. Which is meritless. Management always knows about everything going on. Absent a claim that they misrepresented information or failed to disclose material information that was required to be disclosed, the claim is pointless. And that appears to be the case. If ADXS had failed to disclose required information it would be a different type of claim.
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