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Affymax, Inc. Message Board

  • e.kovak e.kovak Jun 22, 2013 9:56 AM Flag

    what about class action suits

    Class actions are often viewed as a vehicle for plaintiffs' lawyers to make millions of dollars on issues of dubious merit. If an individual case had merit in of itself the plaintiffs reward would not need to be diluted amongst a large group of plaintiffs pooled together to justify the law firms expenses and reasoning for excessively high fees. This is a simple settle out of court case if any, to which a plaintiff would fair far better then to be dragged through the derelict legal games. Class actions are usually used for large groups, we do not have a large group here, we have corrupt lawyers who are trying to herd two or three remotely possible cases to which the familys of these unfortunate individuals probably dont even need a lawyer. How many lawyers in jail for corruption????

    A multi billion dollar blockbuster drug and international company does not file bankrupsty for a couple millions dollars in lawsuits caused by a few unknown adverse events, these losses are built into the insurance and excepted but unfortunate collateral damage. Business Law 101.

    If in fact a large group of shareholders were duped, then a class action suit would have merit. However, their is nothing to date that suggest that Omontys had an efficacy and or safety issue per the FDA, and that all available information to date leads to Frens. It also appears based on available information, that the recall was inline with FDA protocals where in as much that public safety comes first and all steps were taking to prevent any further unknown causes of catastrophic adverse reactions.

    The issue at stake here is whether or not Omonty's is returning to the market to help suffering patients around the world! Period

    Sentiment: Hold

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    • You obviously know nothing about class action lawsuits, and especially shareholders class action litigation. I guess you did not own AFFY at $16 to $27 share when its actual value, according to the plaintiffs' complaint had the truth been disclosed about O, was $2 per share.

      • 1 Reply to godwinpeak
      • GW -

        How does that type of lawsuit work? Does someone go through all the old e-mails and try to see if LAFFY employees knew that FDA was going to tell them to end O? I guess they would check all the LAFFY employees to see if they then sold their shares before it all went down. Follow the money. Is this one of the avenues that would be taken in the shareholder litigation?

        I've had long-shot stocks that went BK and there was litigation but I never paid too much attention because it seemed useless. I ended up with literally pennies. But this litigation would seem to have merit if there were employees cashing out - assuming they had been warned by the FDA, as it seems that they must have been.

    • Shame on you #$%$ for trying to belittle the agonizing DEATHS (not 'adverse events') which these people SUFFERED due DIRECTLY TO THE KILLER DRUG OMONTYS. There is NO EVIDENCE AT ALL that shows this was anything besides a DEATH CAUSED BY KILLER DRUG O.

      You are a disgusting person who attempts to belittle the DEATHS that occurred just because you stand to profit by a few hundred dollars, or thousands, or millions.

      I will not let you #$%$ try to cover up this AWFUL SUFFERING AND DEATHS CAUSED BY KILLER DRUG O. Thank you.

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