1. There's no gain for the shareholders even if the lawsuit were valid that ELN "knew they had a killer medicine" whatever the hell that means. Te claim is so spurious, it falls into the nuisance suit arena--and the stock will soar when all is said and done--
2. No gain for the shareholders who become a part of this fiasco because the law firm will keep the lion share of the proceeds even if they win. Been there done that.
3. A few folks whose idea of due diligence is throwing darts will play with the retail value of the shares to the tune of fifty cents. Have a nice trading day.
4. Institutions will yawn at the 86% holding levels. They've rode this one this far and aren't going anywhere.
5. Cowan becomes more important, although the company will have to be careful now that the bottom feeders are out.
6. ELN and BIIB are in great negotiating position with the FDA in holding them ransom and the patients ransom, for release of subject medication.
7. The public will jump all over bottom feeding lawyers, when the patients get some of their own, the 2998 who have benefitted from the therapy.
When you buy a speculative stock for a medicine in trial, you make speculative decisions.
This is bull, seen it before, will see it again, wont be the last trying for a lottery prize at the expense of this company and the patients they are trying to serve.
They haven't a chance, and the public is getting tired of it.