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SIGA Technologies, Inc. Message Board

  • nicehedges nicehedges Apr 12, 2013 1:10 PM Flag

    SA: Prediction: SIGA Technologies Will Win Appeal Of Pharmathene Law Suit

    On January 10th 2013 the Delaware Supreme Court listened to oral arguments regarding SIGA's appeal of the material judgment awarded Pharmathene on September 22, 2011. Delaware's Supreme Court usually decides almost all of the cases before them within 90 days but still hasn't released their final ruling concerning SIGA's appeal of this case. After researching this case in detail, I believe as does Jeff Leff, a SIGA investor, that if there is any award to Pharmathene after this appeal, it will be significantly less than the original award. Here is an excerpt of comments made by Leff on Andrew Tobias's website-

    "Jim Leff: "A friend who's also a SIGA investor tells me that an investment analysis firm hired a distinguished Delaware judge to look over SIGA's supreme court appeal and to share his findings for their big-wig investors. The judge agrees that the lower court decision (which "split the baby," awarding the plaintiff half the future revenue from SIGA's smallpox drug) was overreaching. He's confident that SIGA will be on the hook for a much, much, much lower amount (that's been my expectation, as well).""

    So that you understand the impact of that lawsuit and judgment, during the first part of 2011 SIGA's stock was trading in the $10 to $15 plus range in anticipation of future revenues including a major contract with the US government for their ST-246 drug, now being branded as Arestvyr™. From the below stock chart you can see that 2011 law suit and judgment had a dramatic effect on SIGA's stock price so that anyone should be able to understand that any adjustment of that original judgment will probably dramatically increase the value of SIGA's stock.

    So that you have a better understanding of the history of this lawsuit on January 3rd 2011 Pharmathene (PIP) commenced a breach of contract action against SIGA Technologies (SIGA) (referred to as SIGA herein) per this Jan. 24, 2011 PR Newswire including the following excerpt-....

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