My solid no answer was due to the fact that there’s multiple endpoints and if the are successful in achieving a few of them, the trial has not failed. Now later, if they fail to gain approval anywhere and the stock tanks, there will likely be lawsuits against the company regarding the materiality of the failed primary endpoint at which point it will be argued in court. The result of the trial will tell you whether they should have notified the public at the time they knew the primary endpoint failed.
From an attorney’s perspective, the real question will be whether they acted in good faith in thinking that they could still get it approved.
As an investor it is easy to answer yes, as most people are relying on the primary endpoint in this case, but it is not a clear cut issue, which your friend Biosectinvestor has mentioned numerous times.
I have said before that this issue is not of great importance as per DI, company believes they have an obligation, so in their eyes there’s no bad news that they feel they should have reported.
We unfortunately do not live in a world defined by statutory regulations, but in a world based on common law. Our US legal system is not as cut and dry as other parts of the world.
This is just my personal opinion based of many years of legal experience, but should not be relied on as a legal advice.
Happy New Year from Las Vegas to all you wonderful people around the world.
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