Replies to post #357719 on Amarin Corp Plc (AMRN)

[marjac]

Ishouldknowbetter,

If I were to proceed, there would be lengthy litany of omissions of material fact, and I would probably have a liability expert pre-screen the case for merit. If I were to proceed, there will be extensive due diligence research, and pre-suit investigation.

Once again, merely saying the patents are at risk, is not necessarily legally sufficient to defeat a claim for fraud/negligent misrepresentation. Further, we do not necessarily know at this time, what discovery would reveal. Perhaps the duties owed by a company to its shareholders are a little more comprehensive than some realize.

Thank you for supporting us on the Rule 60.

[north40000]

Medarex obtained an opinion, from none other than GS, that a TO of $16/share would be, or is, a “fair value” for MEDX. I think that opinion was obtained while the negotiations between MEDX and BMY were ongoing. The TO had begun at a lower value per share, and was finalized at the GS valuation. Several law firms contacted various MEDX shareholders who thought the $16 was too low. In a subsequent SH law suit, a state court judge in Trenton, N.J., agreed with GS.

I am not aware of companies that obtain a “fair value” opinion from investment banks or law firms prior to a tender offer being made. Might be SOP—I don’t know.

[Meowza]

For the case to have any merit, one has to get passed the sharp drop in the stock price after the court ruling

I don't understand that statement. If he's alleging fraud or misrepresentation, why would you expect that to be general knowledge?

[Bouf]

Great post. These cases are very suspect because the business judgment rule protects management and the board from liability for any judgment call they made that was reasonable. Litigation risk decisions made here were business judgments, maybe bad ones, but they are not liable for bad judgments. Unless management knew about risks not publicly known, very hard to pin liability on them. Plus if they knew of such risks, they would have settled.

Beware of lawyers trolling for clients.