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Axonyx Inc. (AXYX) Message Board

  • stockphenom stockphenom Feb 15, 2005 6:52 PM Flag

    Bloodsucking LEECH Lawyers at it again

     

    Another frivololus lawsuit that will pad their pockets.

    This topic is deleted.
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    • thrill_seeking_billionaire thrill_seeking_billionaire Feb 15, 2005 8:12 PM Flag

      SORRY PEEPS,

      I too agree these lawsuits are fakes. I thought we would bounce like PARS did before they filed. Its too bad but this likely flow of suit upon suit is a deathknell for any bounce in this stock as SHORTS will be unmerciless...

      "The complaint charges Axonyx, Marvin Hausman and Gosse Bruinsma with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's only viable drug candidate, Phenserine, a acetylcholinesterase ("AChE") inhibitor, failed to curb symptoms of Alzheimer's disease; (2) that the Company knew or recklessly disregarded the fact that Phenserine failed to partially block the effects of AChE, an enzyme that breaks down a neurotransmitter in the brain important for memory and cognition; (3) that as a consequence of the foregoing, the Company would not be able to commercialize Phenserine, currently its only potential source of revenue; and (4) that as a result the Company's positive statements about the development and potential approval of Phenserine were lacking in all reasonable basis when made."

      This might push AXYX down to $1 to $1.25.

      That bounce needed to start already & it hasn't. I'd be extremely cautionary. In fact I might consider pulling out until this stream of negative lawsuits are played out.

      Realize there are often shorts behind these little lawsuits looking to benifit from the negative stream of lawsuit upon lawsuit.

      TC

 

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