Here is a tidbit from the Complaint:
Close to 100 "adverse events" tied to the drug were reported to the FDA
beginning in August 2012, including 14 deaths by February 22, 2013, the day before the recall.
The majority of these adverse events were reported to the FDA under a Case Type of
“Expedited (15-Day)” which the FDA defines as “submitted to the FDA by manufacturers;
these are reports containing serious, unexpected adverse events.” Further, there were over 60
adverse events reported to the FDA in March 2013, most of which were reported on a nonexpedited
basis and many of which also contained symptoms of allergic reactions. The
majority of these reports were reported directly by a healthcare professional, and presumably
occurred prior to the February 22, 2013 recall since they were reported on a non-expedited
I agree with Jagan. O is a life changing medication.
The original AFFY investors got really burned. You new AFFY investors think AFFY will make you rich. The original AFFY longs have good lawyers. They have investigated and are still investigating the story of O. The "tidbit" is just one of the Complaint's allegations about O and how unsafe it is. There are others. The FDA is not fooled by AFFY longs.
We hope that a thorough investigation of Affy will include Feb.14 and the first attack on Affy shareholders to the tune of 11 million shares just shy of 33%. We hope those responsible we be exposed and held accountable whomsoever they may be. I personally hope anyone who had advanced knowledge of the recalled will be examined, whether they be CEO or clerk, insider or not. As we wait to see if the as yet unproven allegations are true try to be civil.
A lawsuit will play very little effect. The bigger concern is whether AFFY will announce that the cash vaults are getting depleted soon given the re-structuring and lawyers fees. Cash depletion could put AFFY shares on the 50 cents range. I could be wrong, not sure how long will 57 million lasts given the ongoing expenses.
AFFY as the end of June 30, 2013, had about $7M cash left. To me, that is not much compared to its litigation expenses/liabilities/indemnifications. AFFY has not set aside any reserves for litigation nor made any estimates. Big reason why time is running out for AFFY to survive without BK and before O, if ever, returns to market.
No seriously? And you call me misleading? Maybe you better give your source so everyone can see where this info comes from. Kind of sad don't you think. You're loosing it... Come on man try a little harder!
GEEWEEPEE - This is a complaint, none is the factual. As a garbage lawyer you can write any garbage and I can write lots of garbage if one is a garbage, which many are not.
AFFY has D&O and absolutely has nothing to do with the AFFY itself. If D&O does not cover, it is they personally liable, it is no more AFFY!
D&O insurance will take care of, anyway it is sheer waste of time answering you, because you are a moron!
Sentiment: Strong Buy
The law firms representing the plaintiffs are of the highest calibre and integrity. In the securities class action, lead plaintiffs co-counsel are GLANCY BINKOW & GOLDBERG LLP, Los Angeles, and POMERANTZ GROSSMAN HUFFORD DAHLSTROM & GROSS LLP, both their New York City and Chicago offices. These firms are not the garbage you post.
I remember a litigation law firm (forgot it) who was sentenced and paid a huge penalty in millions of $ and barred from practice. This firm used to be on the headlines all the times, just frivilous lawsuits.
For AFFY shareholders nothing matters, there is a D&O insurance and if they did anything mischievous they are personally liable. Secondly there is enough and more product liability insurance.
No Dialysis center would have taken the risk, if there were issues which they can't handle and it was overwhelming.
Till the day of recall they were administering the drug and except FMS others were doing very well and never had any issues, even in case of adverse reactions they were treated and no deaths reported.
It is just the FMS issue and it will come out, which will blow you shorties off!
Sentiment: Strong Buy