I suspect that the class action lawyers in concert with their short selling buddies are less concerned with the ultimate outcome of the suit than you are.
Oh yeah, what was the basis of the suit that Anavex had to defend in the past? The suit was dismissed with prejudice but the share price still took a hit and it cost the company a chunk of money and momentum.
Courts may certify a case as a class action, but they don't "certify" complaints.
Not my field of law, but I believe a plaintiff would have to allege a material misrepresentation that was reasonably relied upon to the detriment of investors. That gets tested on the company's motion to dismiss for failure to state a claim.
Even if that is a winning motion -- I think it probably is -- the best legal advice would be to avoid even the opportunity for such a lawsuit, and it appears to me that's what Missling is doing. He has been through that litigation process before.
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