Replies to post #96293 on Avid Bioservices Inc (CDMO)

[UNDAUNTED]

You're right, PPHM is in a bad situation. I made it clear I was talking about the lawsuit. It is a positive bc PPHM clearly feels they have grounds to pursue legal remedies from the responsible parties and they are not hesitating to pursue them.

The market has responded to the initial bad news over the week, reflected in the pps plummeting over 80%. That's already happened. This piece of good news is, I think, the beginning of a series of decisions and events that will slowly start offsetting the events of the past week.

I'm not wearing rose-colored glasses, I think that is a pretty stright-forward objective surmise of the situation.

[Seanf812]

Undaunted is a poster who has not pumped this nor bashed it whatsoever. He is one of the few people who actually posts what he believes will happen, jumping on him like that is worthless.
The lawsuit is good news in my eyes, because liabilty is based on 4 things. 1.) The defendant owed a duty to Peregrine (to administer the drugs correctly), 2.) The defendant failed to execute this duty, 3.) As a result of this failure to execute, Peregrine was "hurt", and 4.) as a result of this injury, the defendant suffered a loss which was not their fault.
I also really like the fact that they have hired what looks to be an extremely compentent lawyer (can be a negative though:they may break the bank trying to fund this litigation).
I do not believe this lawsuit will do anything in the near term, at least for a month or two until CSM answers, then discovery starts and the good stuff begins to come out. Then depending on what information comes out we will most likely see a settlement or alternative dispute resolution (arbitration, mediation).
However, I do believe it is important to note that Peregrine had NOTHING to do with this error. This lawsuit is my point. Peregrine did not have anything to do with the coding errors, and while I do not like to believe in conspiracy theories, I can't help but look at the numerous shorters and wonder if financially it would be worth it to them to try and sabotage the coding (AF having insider information, etc. is hard to ignore). Should be an intense few weeks. Does anyone know what the Return date for the answer is?