If shareholders didn't file lawsuits against ACT for the whole "global settlement" deal, I doubt they will now. I do believe that most of these costs are going to have to be paid up-front by ACT but that they'll be able to recoup them from the Caldwell estate. One question that popped into my head last night is whether or not these charges somehow give direct legitimacy to the Aronson lawsuit. That I would consider a problem. I looked at the Aronson lawsuit in-depth awhile ago and didn't think there was much to worry about on the surface, but obviously depending on the dates that we're dealing with, this could present a larger problem. I'd have to go back and look again to see, but for some reason I think this occurred after the date that Aronson alleged ACT screwed him over. If this is a standalone problem that doesn't have some sort of waterfall effect, I don't think this SEC thing in and of itself is really that big of a deal, other than some reputational damage (which, given all that has gone on over the past year, it's not like they have much of a reputation left to ruin at this point anyway). If I'm Rabin and it's something I'm really that concerned will severely impact the future operations of the company, I'm trying to drag it out for as long as I can and hope that I can keep it tied up until after the Phase I clinical trial is done and I'm in a better position to secure a more lucrative partnership deal, then use some of the up-front money received to pay whatever is owed.
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