in the arbitration settlement hearning coming feb 4 22, where a panel of 3 judges will decide the fate of PSS, typically the two sides lawyers will try to negotiate a settlement prior to the hearing to avoid a decision made by the judges where the the defendent loses control of the outcome award
IMHO PSS lawyers will propose a settlement to SRNE prior to the Hearing date and if accepted , the hearing will close the arbitration case, if not , the panel of 3 judges will decide the fate of the fina award to SRNE IMHO
get ready to rumble SRNE shareholders , the chase in price before the hearing begins next week guys !!!!
remember judge in 2019 blocked PSS attempt to block the case from proceeding which means there is merit and only the settlement award amount is at issue IMHO
October 15 2019 - 10:36PM
GlobeNewswire Inc.
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Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento") announced today that a Los Angeles Superior Court judge has rejected Patrick Soon-Shiong’s attempt to allow him and his company, NantPharma, to avoid the billion-dollar fraud and breach of contract claims that Sorrento filed against them earlier this year. Sorrento’s claims relate to the “catch and kill” scheme that Soon-Shiong allegedly orchestrated to keep Sorrento’s promising cancer drug, Cynviloq, off the market in order to preserve Soon-Shiong’s personal financial interest in another competing drug.
In his ruling, which was dated October 9th but was served upon Sorrento on October 15th, the Los Angeles Superior Court Judge, among other things, denied Soon-Shiong’s and NantPharma’s motion to stay or dismiss Sorrento’s arbitration against them, thus allowing the case to proceed in full. The Court also granted Sorrento’s motions to compel Soon-Shiong entity NantCell’s counterclaims to arbitration, rejecting NantCell’s attempts to avoid the arbitration agreement it had previously entered into with Sorrento.
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