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Affymax, Inc. (AFFY) Message Board

  • wildbill400 wildbill400 Apr 26, 2013 9:15 PM Flag


    First off, this is exactly we have here today, let me start by saying Affy's Insurance will cover the "average settlement" for cases such as these which is $1 million dollars "Out of Court" payment so the Attorneys can F.O. and die!!

    Secondly the Lawyers have no Case, Affy didn't report what within what time frame to whom according to what Law????? Affy did report the allergic reactions to the FDA as they occurred, then pulled the drug off the Market with a 100% Recall, thus avoided being Negligent and potentially voiding their Insurance Coverage

    Thirdly the Lawsuits are full of factual errors and typos which demonstrates lack of seriousness on the part of the Litigators and proves they seek an Out of Court "Pay Off", also the dozen or so Lawsuits are repetitive in nature and will be thrown out or consolidated into one Lawsuit.

    Fourthly, look at any Drug Stock that has bad results in Phase III, or after FDA Approval resulting in a dramatic drop in the PPS and guess what??? Blood sucking Attorneys come out of no where seeking Shareholders to start a Class Action Lawsuit because the CEO and BOD "hid something" from Investors! It is less expensive to Settle out of Court than to fight them in Court so the Insurance Co. doles out $1M.

    Finally, and sorry for writing so much, but I am fed up with all the lies posted here to scare people regarding Affy Lawsuits (by the way it took months for them to find one lead Plantiff, Lol) so I view Lawsuits and the resulting supposed BK as being a dead issue and of little concern to Affy's Board of Directors. (BOD) or to me!

    An example to end on, one Drug Stock I owned was accused of "hiding CANCER" as a result of taking their drug and the stock crashed big time, guess what? Attorneys showed and sued, long story short, they got $1M in a Out of Court Settlement and the stock rebounded 900%!!!! Geeesh!

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    • Wild: I agree with you, those who hold the stock knew all these games being played. I did not bother to look at it. Look at the volume, despite the stock being played within the Hedgies themselves, no real participation by retail longs.

      The ball is in Takeda's court, they are not penny pinchers. For them the priority is not to screw AFFY shareholders, rather get all the details, remove the redundancy and to do all around effort to bring the product to the market and service the patient population. The FDA is aware of the price gauging by AMGN and the practical benefit along with lower cost of this product.

      At these prices, it is like a Call option. Just let us not sweat, if you are a long just hang on and wait for the outcome. I would expect them to come out with a statement / resolution soon, since it is almost 2 months and Japanese work harder than any other population.

      With the backing of Takeda Omantys will hit the market IMHO, with a vengeance!


      Sentiment: Hold

    • Wild, I have been saying it for some time. These so called lawsuits have zero merit. I will go further and say the insurance will not even settle out of court, because there is zero merit, Period. Investing is always a gamble. Sometimes that gamble pays off and sometimes it doesn't. You can't say, oh no's I lost money on this gamble so I am going to sue the company. Doesn't work that way in the real world.

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