Pending lawsuit with GSK & Sale of Company

Interested parties must sign a certificate of interest that states they are...

- not a bank
- not a 10-percent shareholder of Pernix Therapeutics Holdings, Inc
- not a controlled foreign corporation that is related to the Issuer

 

Thank you for the last two informational posts. I do have a question as I do not understand lawyer/legal talk (I just can sell and loyal rep). What honestly does this mean as far as your thoughts on the financial state of the company as it relates to a potential buyout or even bankruptcy (if applicable).

Thank you in advance for your response

 

You can't possibly sell and be a loyal rep. The two go together like oil and water.

 

This lawsuit is MAJOR for the financial health and survival of the company as mentioned above. Does anyone have an update. Is October still the target date for judge to make a decision either way.

 

We are reps, not board members. How would we know?

 

You don't have to worry about the GSK case, the company already had the funds set aside in case they loose. If won, the company is looking at a 50mil plus payment from GSK for breach of contract on their part, plus returned any payments they previously made to GSK. This is an arbitration between the two, not a lawsuit.

 

Unfortunately this lawsuit as Analysts are saying will prevent any buyout until resolved in October. As for cash set aside. Simply not accurate as company only has 30M of operational funds left. The suit is indeed a big thing. And can be positive. October can't get here soon enough