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Post by jerrys on Mar 10, 2016 0:11:52 GMT -5
I've read a lot of civil complaints, and this one seems awfully thin. I agree. Unless the insurers particularly want to settle I cannot see that going anywhere. I would be inclined to agree except that now over twenty law firms that have signed on. I can't help but wonder whether they see something significant that they can attach their wallets too. Also note that during the discovery phase of a suit, they can poke their nose into practically every single closet MNKD has looking for "dirt." The lawyers also know MNKD's weakened financial condition and know what a strain it would be to fight a class action suit. Figure that Groupon's suit took four years to resolve and still cost Groupon 45 million dollars. That's bound to put pressure on MNKD to settle as quickly as possible.
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Post by agedhippie on Mar 10, 2016 16:43:54 GMT -5
I agree. Unless the insurers particularly want to settle I cannot see that going anywhere. I would be inclined to agree except that now over twenty law firms that have signed on. I can't help but wonder whether they see something significant that they can attach their wallets too. Also note that during the discovery phase of a suit, they can poke their nose into practically every single closet MNKD has looking for "dirt." The lawyers also know MNKD's weakened financial condition and know what a strain it would be to fight a class action suit. Figure that Groupon's suit took four years to resolve and still cost Groupon 45 million dollars. That's bound to put pressure on MNKD to settle as quickly as possible. As the insurer bears liability the insurance policy usually gives them the rights to decide how to proceed. This will suck up management time but probably not put that much pressure on Mannkind beyond that. Once you factor in outside council and executives time the bills do rack up though.
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