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News Breaks
May 26, 2013
18:58 EDTSIGA, PIPSIGA says court reverses 'equitable payment stream' to PharmAthene
SIGA Technologies (SIGA) reported that the Delaware Supreme Court reversed the award of an "equitable payment stream" by the Court of Chancery in its May 31, 2012 Final Order and Judgment in PharmAthene (PIP) v. SIGA Technologies and also remanded the case to the Court of Chancery for further proceedings to determine appropriate damages. William J. Haynes II, SIGA's General Counsel, commented, "We are pleased with the Delaware Supreme Court ruling issued on Friday. The Supreme Court's decision states that PharmAthene may only obtain damages for its lost expectancy if it can prove them 'with reasonable certainty.' We intend to establish to the Chancery Court, consistent with that Court's earlier conclusions, that PharmAthene's evidence of expectancy damages is speculative and too uncertain, contingent, and conjectural to permit an award." Dr. Eric A. Rose, SIGA's Chief Executive Officer, commented, "While legal proceedings may continue, we will now focus with even greater intensity on growing and enhancing SIGA's business, executing our existing contract with BARDA, seeking approval and licensing of Arestvyrô from the U.S. Food and Drug Administration, and making greater use of our proven antiviral drug discovery and development capabilities."
News For SIGA;PIP From The Last 14 Days
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October 8, 2014
12:32 EDTPIP, SIGAPharmAthene announces court partially lifts stay of litigation against SIGA
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