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Post by mindovermatter on Mar 7, 2016 12:44:23 GMT -5
Ho much are those dozen or so class action law suits expected to slow MNKD's recovery? Unless I am mistake, these law firms are trying to get people to sign up for the lawsuit and the due date to have enough people to start an investigation is coming up. It might end up that there aren't enough investor sign ups and that the suit will not go forward due to lack of interest.
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Post by rockstarrick on Mar 7, 2016 15:14:11 GMT -5
Just as you shouldn't take medical advice or investing advice from unknown people on Internet message boards, you shouldn't take legal advice either. I hope mnkd has insurance for this type of think. Matt stated MNKD has insurance for these flakes, these Crackerjack lawyers are side noise, like a crappy dancer trying to distract attention from the band. They only make themselves look like fools. a non issue in my opinion.
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Post by rockstarrick on Mar 7, 2016 15:18:18 GMT -5
I'm glad they have insurance. Thank you. I'm curious. Is there any advantage to being the lead plantiff? I would doubt a rich person wants to advertise the fact they they lost a ton of money unless there was a good reason for doing so. Pour a bowl of cornflakes, then look into the bowl and identify the first cornflake to land in the bowl. (my nasty sarcasm is not directed at you, I hate Sanofi and these crackerjack lawyers) I hope this was helpful
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Post by rravis1914 on Mar 7, 2016 15:35:19 GMT -5
Postahalic,
I was thinking of registering with a law firm, but is it true I don't have to? I have been putting it off because I wouldn't want to cause Mannkind/Afrezza problems. Because of your post, the load is off my mind.
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Post by trondisc on Mar 7, 2016 15:44:46 GMT -5
As much as this company has screwed my $3.89 break even position (LOL, not seeing that price anytime soon in the next few years) and I realize MannKind's Technosphere has unlimited potential, I've accepted that I would rather roll the dice with my massive losses in the name of advancing Afrezza & Technosphere improving patients lives like never seen before. I'm pissed too but I don't want to sue the company *IF* they have the chance to change modern medicine forever. We won't know how close to "on the verge" MannKind could be on the threshold of Technosphere greatness until sudden announcements...
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Post by kbrion77 on Mar 7, 2016 15:50:49 GMT -5
As much as this company has screwed my $3.89 break even position (LOL, not seeing that price anytime soon in the next few years) and I realize MannKind's Technosphere has unlimited potential, I've accepted that I would rather roll the dice with my massive losses in the name of advancing Afrezza & Technosphere improving patients lives like never seen before. I'm pissed too but I don't want to sue the company *IF* they have the chance to change modern medicine forever. We won't know how close to "on the verge" MannKind could be on the threshold of Technosphere greatness until sudden announcements... Hard to believe there was once a day where we thought that was a bargain. That's about where my IRA's are at but I did get in at .90 on my brokerage account.
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Post by babaoriley on Mar 7, 2016 18:07:26 GMT -5
Difference is the majority of those shares were given to them as options on the share holders dime and were not open market purchases So what? They're still shareholders and profit when the value of those shares goes up. What is the basis for saying they have "absolutely no regard for their shareholders?" Silly statement by someone so bitter that their judgment is clouded. I wish he were the lead plaintiff!! Lead plaintiff does not have to be one of the more allegedly aggrieved claimants, in fact, I doubt the amount of damage allegedly suffered weighs much at all. What class action lawyers are looking for is a fairly bright individual, who will do well in deposition, and whose case is similar to the majority of potential plaintiffs, and who himself or herself isn't subject to some special or different defense that wouldn't be applicable to most of the class. Don't think MNKD has done anything wrong here, so I'm not worried in the slightest.
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Post by cretin11 on Mar 7, 2016 22:46:49 GMT -5
Postahalic,
I was thinking of registering with a law firm, but is it true I don't have to? I have been putting it off because I wouldn't want to cause Mannkind/Afrezza problems. Because of your post, the load is off my mind. Correct, there's no benefit to signing up with a law firm at this time, and you're not "missing out" on anything by not acting now. If anything happens with a case, you'll have plenty of time to act later.
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Post by jerrys on Mar 8, 2016 10:43:51 GMT -5
One thing I noticed was that the previous class action suit had only three firms:
"The securities class plaintiffs are represented by...Glancy Binkow & Goldberg LLP...Pomerantz Grossman Hufford Dahlstrom & Gross LLP, and...Bronstein Gewirtz & Grossman."
This time around there's a whole gang of them:
Levi & Korsinsky, LLP
Khang & Khang LLP
Law Offices of Howard G. Smith
Law Offices of Vincent Wong
Lifshitz & Miller Law Firm
Brower Piven LLC
Rosen Law Firm
Harwood Feffer LLP
Goldberg Law PC
Faruqi & Faruqi, LLP
Hagens Berman Law Firm
Law Offices of Marc S. Henzel
Pomerantz Law Firm
Wolf Haldenstein Adler Freeman & Herz LLP
Federman & Sherwood LLC
Robbins Arroyo LLP
Bronstein, Gewirtz & Grossman, LLC
Powers Taylor LLC
Briscoe Law Firm, PLLC
I'm unsure how to interpret the growth in numbers.
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Post by bradleysbest on Mar 8, 2016 10:55:34 GMT -5
All are scum bags...except for Baba!
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Post by coo2002coo on Mar 8, 2016 11:00:10 GMT -5
One thing I noticed was that the previous class action suit had only three firms: "The securities class plaintiffs are represented by...Glancy Binkow & Goldberg LLP...Pomerantz Grossman Hufford Dahlstrom & Gross LLP, and...Bronstein Gewirtz & Grossman." This time around there's a whole gang of them: Levi & Korsinsky, LLP Khang & Khang LLP Law Offices of Howard G. Smith Law Offices of Vincent Wong Lifshitz & Miller Law Firm Brower Piven LLC Rosen Law Firm Harwood Feffer LLP Goldberg Law PC Faruqi & Faruqi, LLP Hagens Berman Law Firm Law Offices of Marc S. Henzel Pomerantz Law Firm Wolf Haldenstein Adler Freeman & Herz LLP Federman & Sherwood LLC Robbins Arroyo LLP Bronstein, Gewirtz & Grossman, LLC Powers Taylor LLC Briscoe Law Firm, PLLC I'm unsure how to interpret the growth in numbers. Growing number of law firms is not the key. What matters is whether or not there is a Lead Plaintiff for them to represent, not to mention the outcome of any "investigations". I think so far it is difficult to establish any valid claim against MNKD for misleading or being the cause of investors' loss. Why waste time to get into a case with these law firms which need tons of time (& your costs) to investigate for case establishment?
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Post by myocat on Mar 8, 2016 11:08:15 GMT -5
This is insane...... I do not see a single class action law suit against SNY..
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Post by agedhippie on Mar 8, 2016 12:00:51 GMT -5
This is insane...... I do not see a single class action law suit against SNY. Why would there be? SNY have no responsible to Mannkind shareholders.
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Post by kc on Mar 8, 2016 13:12:20 GMT -5
I noticed one law firm that is missing from the list Dewey Cheatem & Howe.
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Post by matt on Mar 8, 2016 17:15:31 GMT -5
So what? They're still shareholders and profit when the value of those shares goes up. What is the basis for saying they have "absolutely no regard for their shareholders?" Lead plaintiff does not have to be one of the more allegedly aggrieved claimants, in fact, I doubt the amount of damage allegedly suffered weighs much at all. The amount of damage suffered is the principal determinant of who gets to be lead plaintiff. The goal when the law was changed was to get institutional investors involved as lead plaintiffs rather than the brother-in-law of the first lawyer to file (this was actually a common practice with one infamous law firm). The criteria for who gets to be lead plaintiff is codified in federal law and it is up to the judge to decide which party best satisfies the statutory criteria; the rules are set forth at 15 USC 78u-4(a)(3). The reason there are so many law firms scrambling for position is that they smell money and whichever firm signs up the eventual lead plaintiff will get be the lead law firm and claim most of the legal fees. There is only one lead plaintiff for the case so from the law firm's perspective it is a winner take all deal.
There will be a case, no question about that, but the first step is to get the case beyond what is known as the 12(b) hearing. Once the lead plaintiff is identified Mannkind will file a 12(b) motion to have the case dismissed, and the plaintiff's law firm will file a motion in opposition to dismissal. Both parties have to show their cards and the judge decides at that point if there is enough evidence for the case to go forward. If Mannkind's motion to dismiss is rejected, the pressure will be on for a settlement from the Director and Officer insurance proceeds. If Mannkind's motion to dismiss is granted, the case is over at that point. While a 12(b) dismissal is theoretically appealable, very few are pursued further.
Since the law was changed in the late 1990's, approximately 50% of securities cases have been dismissed at the 12(b) hearing and 50% have proceeded to trial or settlement.
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