Replies to post #331025 on Amarin Corp Plc (AMRN)

[Number sleven]

Kiwi, You ask a very good question. Why not? I don't pretend to have the legal knowledge to know. Management has a great deal of money on the line. They have filled two different legal actions. Why not a rule 60 action? I have no opinion. Do you or anyone else have an opinion as to why they would avoid this.
Sleven,

[Lrich]

Do your research:

As of the date of this Form 4, the Reporting Person owns or holds the right to acquire an aggregate of 10,515,415 Ordinary Shares of the Issuer in the form of Ordinary Shares, stock options and RSUs

So you're off by a substantial amount.

Then realize that supporting the Rule 60 proves that JT and his merry band neglected their fiduciary duty because they chose to not pursue this.

Amarin supporting this means that Amarin admits either neglect or incompetency. Either one of which opens up the potential for a shareholder lawsuit. I fully understand why they refuse to support it, because I'd be salivating at the potential to screw JT and the rest. As would every ambulance chasing lawyer out there.

[Birdbrain Ideas]

I've said this before, but I'm a huge fan of HK and Marjac's work and I think the Rule 60 motion is a worthy and inspiring quest that will make Judge Du rethink some things even if she ultimately rejects it on some procedural grounds. As I'm not a lawyer, I don't know what those procedural grounds would be, but I imagine Hikma and Dr. Reddys will try to get this booted on those grounds simply because they know the danger of letting the judge recalculate her original findings on the facts of the case. As I wrote in the last hour, the greatest accomplishment of the Rule 60 motion might be to have led Judge Du to rethink some things on the remote chance that the Supreme Court takes up the case and kicks it back to her with instructions to weigh the secondary considerations differently.

I haven't read the Judge Du ruling since last year, but I do recall being left with the impression that Judge Du thought the whole thing was a pretty close call. That's why I was surprised when the Federal Circuit dismissed the appeal without seemingly much thought. The Federal Circuit judges seemed to be saying that the issues Judge Du decided were discretionary and subjective and it wasn't really their place to second-guess her because she made the rulings after sitting through a long trial, watching the demeanor of the witnesses as they spoke and reviewing all the evidence.

As to hitting the bong, the words did bring back some memories of some very happy college days so thanks for that.