RE:RE:RE:Patrick Soon Shiong in the newsHi Eddysantana,
Upon reading Balain's post yesterday, I have to admit, the first thought that ran through my mind was, 'here we go again'. Although said Patrick Soon-Shiong does not have direct involvement in the day to day operations, he holds the single largest block of shares, and has a representative on the board. It's hard to see how this relationship won't be viewed in a negative light.
However, it does not come as a total surprise. It's been mentioned on this chat line more then once, when discussing
dr. Soon-Shiong's charitable trust struction, how it may not be 'so charitable'. He appears to have been stretching the limits of such arrangements and may have to answer for his actions.
I guess the question now is, how does this effect PLI? My guess is probably not very much immediately, but one has to wonder how this impacts Dr. Soon-Shiong's holdings going forward. I suspect it's going to become a major distraction for him personally if his operations become the focus of criminal investigations. Considering PLI's direct partnership with Nantpro (pharma?) links the 2 companies and Shiong's considerable ownership stake in PLI is undeniable there could be an impact, although that arrangement is less active than originally invisioned, with PLI taking back control of one of the targeted therapuetic proteins to move things along quicker.
Who knows, maybe he put in a position that he sells his interest in PLI? Time will tell, but I hope if that becomes the case that share blocks find institutional homes and don't flood the market. God forbid, what would Black Momba say?
Good luck,
Felco