the fact pointed out in paragraph #35 of Mr. Klein's complaint has yet to be vetted on this forum. It is damn significant ... why would a Chairman of the Audit Committee quit, just before an IPO if things were not a bit to smelly for him (her) ?? Answer me that? Don't ask the man holding the COB and all fiduciary management positions. The COB, CEO, CFO, CIO, CTO, CSO, ETC. he has a vested interest in running things his own way. I'd bet he, or a very close crony, even reconciles the bank cash account to the books too. Frigging Amazing ...
Again, I do believe I have at least scanned all messages here, and nobody has pointed out that the Chairman of the Audit Committee resigned coincident with Mr. Demopolous "managment" of Mr. Klein's whistle-blower complaint. Did this information get into the offering circular? IF not, where was Douchebank.
OK. insider posters to this thread. try tieing a pretty Thanksgiving bow on this here turkey ?
Incidentally, just for this skeptic's curiosity, how long has that finance guy (introduced not as CFO. but a lower level finance guy in the first ever OMER conference call with analysts & investors) worked for Mr. Demopolous? Where else has he worked and what experience has he to be the CEO's right hand man ? Interesting that he got off the hook in not giving any specifics or even broad parameters for how the offering proceeds would be used. Isn't there a strategic plan supported with financial projections that would allow some confidence among bag-holders by making reference to something that gives proof that they are in financial control at the strategic level?
CEO paid over $6 million!! Disclosed in SEC filing 10/2/09
Gregory A. Demopulos, M.D. 2008 475,000 — 594,203 25,225 (2) 1,094,428
President, Chief Executive Officer, Chief Medical Officer and Chairman of the Board of Directors 2007 474,940 278,011 5,359,554 (3) 178,755 (4) 6,291,260
No big deal that nuisance lawsuit, cj wants more stock!
OK, Maranto for the sake of others due diligence to come to your conclusion Maranto , why did the chairman of the audit committee quit with same timing of the complaints being brought to the Board of Directors ... just happenstance?
Is Mr. Klein lying in his filed complaint about the chain of events through audit committee chairman resignation and retaliation by firing the CFO?... will he do so under oath during a jury trial.
Buy some stock all of you high risk tolerant investors.
X agrees we are possibly onto something here, will the bio-tech funds take that risk. Really need them to get OMER shareholder's reward , a flying high share price for the risk they took, POSSIBLY higher now than when signing up for the IPO shares ??
The truth will likely be somewhere in between the CFO's allegation and the Company's shrug off, as always, the loser will point to semantical misunderstanding(depends on what the meaning of 'is 'is'). Be advised a USA president can do it, so could a ceo/cfo/cao/cto
Most won;t take the risk in this era of scandals, but cj, Scoop up those shares cj at black Friday prices ... and may the force be with you.
Happy Turkeyday everybody. Count your blessings, thank a few in your life that are looking out for you ... there is more to life than picking the next high flier.
<<Obviously a disgruntled employee who was fired with cause>>
The cause was obviously Mr. Klein was not a "yes man" to CEO Gregory A. Demopulos.
<<Gregory A. Demopulos... in an interim capacity, as our chief financial officer and treasurer since January 2009.>>
What is Demopulos' training in accounting and corporate finance that makes him qualified to serve as the chief financial officer and treasurer of a publicly traded company even only in an interim capacity?
Enough of this, I know Mr. Klein from industry association, worked one mile south on I-405 when Rick was CFO of Sonus Pharma in Canyon Park, met him at the Thai Rama restaurant and McDonalds there a time or two. His record is sterling from his days as a CPA at KPMG, arguably the most sucessful global accounting firm, ATL Ultrasound,a very succesfull medical device NASDAQ public company also located in Canyon Park, and Sonus
Each in senior Financial management positions.
One can never say never, Bernie Madoff, founding member of the NASDAQ, being a recent example, but it would sure be a MAJOR character reversal. Really and truly, in one year's bell curve of outliers just how many respected professionals in one year can fall into the 3 std. deviations out category of a wolf in sheep's disguise?!
What odds do U give me that there is substance, and no disgruntlement to the lawsuit?
Have no equity interest in this issue just keeping up on the Seattle biotech scene, and in this case amusement benefits, can be as good as dividends.
CJ maranto ...my you say OBVIOUSLY !!
So how are you so certain that you would actually go out and buy more shares? Does this publicity even have any bearing on the Mr. Market's judgement as to the company's value (MM is always right) ...
CJ, You see this as the reason for the bust of OMER IPO, and decline since then ? Can't imagine there could be so many investors reading the chats for stock valuation.
You see Omeros somehow benefiting from having the allegations found in the company's favor. Is management going to be distracted at all by an obvious nuisance suit.
Then again, just what if its not a gadfly suit and is a real issue with trebled damages from willfull misconduct. Happens often enough. Funny you conclude that the CFO is obviously a ballon boy fraudster.
Please elaborate on how you so indefatigably come to your conclusion that the CFO (formerly CFO of another area biotech company for years) is OBVIOUSLY a disgruntled executive with a sinister agenda. For any of us having read both documents, help us connect your dots of logic please.
Omeros' response to Klein's lawsuit. An interesting read. The only thing Omeros seems guilty of is making a bad original hire of Klein.