PIP has the CC tomorrow. They know how to pump investors at their CC's. So, undoubtably PIP will go up after their CC....duh. While SIGA has intentionally depressed the pps until after the SIGA/PIP saga is complete. So, PIP is up today....and SIGA is down today....not rocket science.
Oh, did I mention.....Parsons is a poop-head. (imho) How one idiot can altar the course of the nation is beyond me. I, (imho) believe that the court will demand a damage settlement $amount$ and call it a day.....if the court knows what is best for Delaware. If the appeal is not adjusted then, (imho) corporations are going to leave their state. Business will not tolerate the mindless disregard for what a 'non-binding' contract is meant to mean.
Paired arbitrage explains the action in the two stocks. Aegis is running an algorithm to make it a ppear that one company has the upper hand in the appeal outcome. As long as the strategy works they will reverse it and take profits in one then the other.
i say this will have ZERO impact on any company ever deciding to do or not to do business in delaware... they simply don't care about some random bio tech nonsense, only you care and other people invested in these companies
it won't change law going forward either.... it will have ZERO effect on the world...
the judge basically had to make a call in this case between awarding damages to a company that may not have exactly had a hand in making the profits.... or rewarding a company that tried to get a free ride in their time of need (the loan that had strings attached, but was necessary for survival)
he made a call...... and NOTHING will change anywhere else in the world
I would suggest you listen to the judges who listened and asked questions when they heard arguments. Most of the questions/comments had to do with how New York law would have addressed the lawsuit...... Hint.....business will head to NY if Delaware rejects the appeal. The judges were clear that the outcome of the lawsuit would have been a slam dunk in SIGA's favor had the suit originated only a few miles away. Pip will lose or business leaves. Period.