To read the full Opposition click here or view on Scribd below.
"That is, the Commission promoted Ligand’s stock price in its Complaint, which was riddled with objectively false information, which dramatically overstated the financial condition of the company. Ironically, this is precisely the nature of its alleged market-manipulation claims the Commission brought against Fr. Emmanuel...
...with one [Ligand personnel] referring to some of the company’s own shareholders as “morons.”
Defendants' opposition to plaintiff's motion for partial summary judgment
October 30, 2020
Fig. 1 - Ligand Insider Sells
For more background see:
- Motion to Dismiss here (October 25, 2018)
- Reply Brief here (November 21, 2018)
- Opposition to The Securities and Exchange Commission's motion for protective order here (January 7, 2020)
- Motion for Summary Judgement here (September 30, 2020)
On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.
Lemelson's full July 13, 2018 letter to Congress is available online here
His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here
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