Court Documents: Armistice Capital LLC (Class Action Suit)There is a MAJOR REASON why Poda has limited Armistice Capital investment to 9,99%.
Look what happened when Armistice Capital LLC owned 29% of Vaxart.
COURT CASE:
Armistice Capital LLC is the subject of a class action suit along with Vaxart, a Nasdaq company, in which they owned 29% of the outstanding shares and they reduced it to .2% in only two trading days reaping $200 million in profits.
Class action suit claim for securities violations and damages. Trial by Jury.
https://www.rosenlegal.com/media/casestudy/2145_Vaxart%20Complaint%20-%20Web.pdf
RECENT UPDATE on this court case: https://www.law360.com/articles/1426908
September 30, 2021
U.S. District Judge Vince Chhabria appeared skeptical Thursday of Vaxart's efforts to ditch a proposed securities class action claiming the biotechnology company artificially inflated its stock price with an allegedly deceptive headline about producing a COVID-19 vaccine candidate, saying the defendants "buried the investors in an avalanche of B.S."
My personal opinion