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Enzon Pharmaceuticals Inc. Message Board

  • one1badbilly one1badbilly Jun 20, 2013 7:45 AM Flag

    Securities Class Action Services

    search "Securities Class Action Services" "The SCAS 50 for 2011"

    I suggest everyone with an interest in stopping this fraud immediately go on these sites, starting from the top down, and find the report a fraud page, they all them, and tell the story:

    Some suggested words

    Enzon's hedge fund driven management and board of directors has just sold the company's IP and clinical developments consisting of over one hundred active US patents (and as many or more internationally), over twenty early drug candidates, multiple pipeline product candidates that have passed phase I and in some instances phase II clinical trials, all of which cost hundreds of millions of dollars to accomplish. They have sold all of this, to a two month old holding company, Belrose Pharma Inc., for less than one million dollars with virtually no explanation or accounting for how shareholders of Enzon will be compensated.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Again, as with the effort with the SEC, as many hits as can be generated the better. In most cases there is a 'Report a Fraud' page, in the few cases there isn't send an email to the POC on the 'Contact Page'. these firms are focused on institutional investors, that's okay, still worth peaking their interest, imo these firms themselves are a species of shark, so be it, if that what it takes, here's some bait:

      Enzon's hedge fund driven management and board of directors has just sold the company's IP and clinical developments consisting of over one hundred active US patents (and as many or more internationally), over twenty early drug candidates, multiple pipeline product candidates that have passed phase I and in some instances phase II clinical trials, all of which cost hundreds of millions of dollars to accomplish. They have sold all of this, to a two month old holding company, Belrose Pharma Inc., for less than one million dollars with virtually no explanation or accounting for how shareholders of Enzon will be compensated.

      After a brief search for a buyer the company management and bod, puppets of the 5%er hedge funds, claimed that they couldn't find a legitimate buyer for the IP. This is rubbish, I guarantee you that over a half a dozen buyers can easily be found that would be willing to pay much much more than a million dollars.

      A Chinese Pharmaceutical company, Zhejiang Hisun Pharmaceuticals is likely the true beneficiary of the IP, and the hedge funds have most likely been paid off in yuan in their offshore accounts.

      I am not an institutional investor but there are several hundred institutional investors being impacted by this fraud, some may already be your clients, other's may be prospective clients. I as an individual investor have an interest in these fraudulent activities being brought to justice and am willing to share with you my research, so please feel free to contact me.

      • 1 Reply to one1badbilly
      • BTW it is worth pointing out that these top 50 SCAS firms in 2011 recovered over $7B in settlements, and earned in excess of $1.4B in fees for themselves. In other words they made about three times the 'entire' annual SEC budget, in securities fraud settlements. Given that the fraud investigation responsibility of the SEC is only a small fraction of their responsibility and budgetary allocation, these fifty SCAS firms likely represent something like 50-100x the fraud buster power of the SEC.

        If not our best hope, certainly right up there with government oversight (still have congress here) and the media.

    • To those that need a little more encouragement, here's a list of the top 20 firms that came up by searching/googling for "The SCAS 50 for 2011". Thank you badbilly! Most have a Fraud Report page you can use. Count on yourself! Don't count on anyone else on this message board to fight the fight for you. Most are too lazy, too busy or have defeatest attitude.

      Rank
      Law Firm
      Settlement Total
      # of Settlements
      Average
      1
      Bernstein Litowitz Berger & Grossmann
      $ 1,377,250,000.00
      13
      $ 105,942,307.69
      2
      Robbins Geller Rudman & Dowd
      $ 1,144,250,000.00
      28
      $ 40,866,071.43
      3
      Labaton Sucharow
      $ 1,035,900,000.00
      16
      $ 64,743,750.00
      4
      Kessler Topaz Meltzer & Check
      $ 851,700,000.00
      9
      $ 94,633,333.33
      5
      Hagens Berman Sobol Shapiro
      $ 435,000,000.00
      5
      $ 87,000,000.00
      6
      Grant & Eisenhofer
      $ 304,650,000.00
      7
      $ 43,521,428.57
      7
      Cohen Milstein Sellers & Toll
      $ 190,550,000.00
      8
      $ 23,818,750.00
      8
      Lovell Stewart Halebian Jacobson
      $ 118,750,000.00
      1
      $ 118,750,000.00
      9
      Milberg
      $ 113,375,000.00
      3
      $ 37,791,666.67
      10
      Wolf Haldenstein Adler Freeman & Herz
      $ 103,400,000.00
      2
      $ 51,700,000.00
      11
      Entwistle & Cappucci
      $ 101,900,000.00
      2
      $ 50,950,000.00
      12
      Bernstein Liebhard
      $ 100,000,000.00
      1
      $ 100,000,000.00
      13
      Barrack, Rodos & Bacine
      $ 95,500,000.00
      3
      $ 31,833,333.33
      14
      Scott & Scott
      $ 81,920,000.00
      4
      $ 20,480,000.00
      15
      Girard Gibbs
      $ 81,520,000.00
      2
      $ 40,760,000.00
      15
      Zwerling Schachter & Zwerling
      $ 81,520,000.00
      2
      $ 40,760,000.00
      17
      Cotchett Pitre & McCarthy
      $ 80,000,000.00
      1
      $ 80,000,000.00
      18
      Allen Matkins
      $ 52,500,000.00
      1
      $ 52,500,000.00
      18
      Esler, Stephens & Buckley
      $ 52,500,000.00
      1
      $ 52,500,000.00
      20
      Berger & Montague
      $ 50,191,666.70
      5
      $ 10,038,333.34

 
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