Is it legal? Is it legal for Spectral to withhold the name of a “confirmed clinical partner” who will be in charge of up to 85% of the DIMI trial- while placing options at a measly .40 cents?
What if that “confirmed clinical partner” turns out to be a giant dialysis company, and when that “material information” is disclosed it dramatically increases the share price?
Would it have been legal for Spectral to hold back that material information for 4 months and during that time place millions of underpriced shares?
This would obviously have a dramatic effect on the level of dilution, and would clearly raise suspicions of insider dealings.
I’m asking both investors here, and a securities attorney.