It is all about their GIG. There is nothing professional about this company's management team. 3 Reverse Splits later. They still have fans on this board thou
So the SEC passed the buck to Delaware . Delaware passed the buck to Department of Business Oversight for the State of California since that is where they do business.
My complaint colluded BOD with a history of bilking shareholders. Salaries $500K plus while never getting a drug to the market. Comparable BOD with huge success paid $300K (Roche, Merck, Astrazeneca)
They are colluded and non independent acting as BOD and The Nominating Committee for the BOD and the compensation committee for the BOD. The BOD ERic Swartz, David POhl Carlton Johnson.
MIsleading Pr's Gave example 7/21 / 2017 AVID set for growth. 8/10 /2017 20% reduction in staff due to lost business and guidance to down side.
The Board has played an important role in supporting the growth of the CDMO business and has provided the management team with valuable insight and support over many years. This support was critical in allowing us to build a successful CDMO business while simultaneously advancing our R&D pipeline,” said Steven King, President, CEO and Director of Peregrine and President of Avid Bioservices.
Now that the pending failure of Avid is being recognized enough to lay folks off, is it not the current BOD who should be cut loose instead?
Accountability needs to be addressed. And shareholders should get claw back for the excessive salaries.