Shareholders of both Siga and Pip continue to be held hostage by the attorneys and the
vagaries of the legal system.
IMHO members of the Board of Directors of both companies should step up, establish
a three person negotiating team for each company and settle this out of court. This
has been going on for approximately seven years---it should be possible to
reach an equitable solution in 6-8 hours tops!
There is only one equitable resolution to this nightmare (if there is going to be one), and that is an exclusive license to PIP to sell and market ST-246 at a 10-12% rate on gross sales. You may not like this solution, but it is the ONLY one that might fly as between the parties. Otherwise they can both go down the drain together.
Golong: The Delaware Supremes found the LATS and other documents constitute an enforceable contract. The LATS provided that PIP would pay Siga an annual royalty of 8% on yearly net sales of patented products of less than $250 million, 10% on sales greater than $250 million, and 12% on sales greater than $1 billion. Also, Siga would be entitled to receive 50% of any amounts by which net margin exceeds 20% on sales to the US Federal Government. The Supremes kicked the case back to Parsons with instructions to award PIP expectancy damages. So, what was it PIP expected under the contract? There is no question that PIP expected a merger, but if the merger did not come to pass, they were to receive an exclusive license to sell in accordance with the provisions of the LATS. A merger has not, and will not, take place. Thus, the only thing left is the license to sell. If Parsons awards an exclusive license to sell under the terms specified in the LATS, his judgment would be "appeal proof" inasmuch as that is exactly what he was ordered to do by the Supremes. What say you?
I am in favor of your solution (with a few adjustments to be negotiated by Pip and Siga)---
Much better than the "down the drain together concept"---Meanwhile there are 12 Members
on the Board of Directors ---one fewer than the Pfizer Board (for perspective)
Should the number of Directors be increased from 12 to 14, or perhaps more like 20?
Can someone (anyone) on the Board of Directors do something that would
be helpful in contributing to the enhancement of shareholder value concept?
For those thumbing down my last post.....Outside of the fact that you simply "hate me"...lol...do any of you comprehend that the lawsuit IS FRIGGIN OVER?! SIGA LOST...The judgment on liability is final. The suit is NOT going away. It is a final judgment. You standing up and shouting or cursing, or whatever morons do, is not going to make it go away.
Do you thumbs down people think that Parson's is just going to award PIP some nominal damages after he gave them 50% of all profits on ST-246 for " forever" before? Do you think his getting reversed on the issue of damages would make him view Siga more favorably, or do you think he could be a tad #$%$" right about now and could perhaps be looking for another way to really stick it to them?
I mean what would you thumbs down idiots do in his place? Think about it. No forget that. Thinking requires some type of intellectual capacity, which you idiots obviously left behind right after the first grade.