Replies to post #17247 on Radient Pharmaceuticals Corporation fka RXPC

[lakeshore555]

I don't think this class action will amount to much.

I don't think the Mayo PR's were the main reason RPC stock tanked. I think the main reasons were, in order:

* SEC determined that the Jade entry on the balance sheet was a lie and made Radient remove it -- suddenly Radient had shareholder deficit instead of shareholder equity, causing, among other things, delisting

* India deal turned out to be hype AS WE ALL KNEW IT WAS but this proved that Garza was a fool

* Radient defaulted on the THIRD set of loans, and investors realized this company could not handle money

* Garza stopped pumping

* Revenues were, as usual, pitiful in every 10-Q and 10-K

* Mayo Study turned out to not be a Mayo Study so investors realized Mac can be shifty with his PR's

HOWEVER, the only one of those that a lawfirm can pursue in a class action is the Mayo Study PR fiasco, so, guess what?

If I were Mac, I would plead No Contest, present the above as my argument that the Mayo PR was really a very small part of the collapse, and hope the judge rules for a small award. Radient the Corporation doesn't care because they can't pay it no matter if it's $10 million or $10 thousand, get in line Rosen, and Mac probably has insurance so his award will be paid by insurance.

But what will Mac do? That is an interesting question. Does Radient the corporation have insurance for lawsuits? I don't know how they paid the premiums, but, who knows, maybe. Since there is nothing else going on -- no buyout, no merger, no revenues, no operations - there's nothing else to talk about. ho hum