“…Interested in your comment on this press release:
“…Martin Shkreli, biotechnology and pharmaceutical investor, and Steve Hurst, CEO of Savant HWP will discuss Shkreli’s latest deal…”
“Shkreli and Hurst will discuss how the KaloBios/Savant deal came together, their observations of KaloBios’ bankruptcy process and the impact of the public eye on pricing practices by life sciences companies….”
If that doesn’t elicit a head-scratching WTF, I don’t know what should.
The symposium is supposed to take place in Palo Alto on September 29th. Where the hell’s Durrant in all of this?….”
My reaction: Could this be a hoax?
If it is not… I. Am. Astonished.
I would similarly ask where is Mr. Brafman? He is of course, Mr. Shkreli’s criminal lawyer, who had him “Take Five” (repeatedly) before a Congressional Committee hearing. That guy (a hard-boiled NYC defense lawyer caricature, incarnate) is going to let Martin boast — and you KNOW he will BOAST — about how smart he was to “put the deal together” — and get “the great financing terms, from investors” for it?! I don’t think so. Wow.
I would be certain that the AUSAs will be in the audience, recording, as he blathers on. This simply strains credulity…
Okay — scratch that — my new prediction is that Mr. Brafman cancels this one.
I can’t imagine this would — in any way — improve Dorsey & Whitney’s reputation, either. What are the partners there, thinking? Nutty.
In addition to his felony indicted criminal exposures, he still hasn’t settled the KaloBios securities class actions, as the sole remaining defendant in that civil matter. The price gyrations alone from mid-November 2015 through December 29, 2015 will be ample reason for the plaintiffs’ securities lawyers to attend, using this as an informal deposition — each time he talks about what he did to create the deal — they should ask: “Didn’t you promise to put your own money in — more than $2 million of it?” What the hell happened there?
This simply has to be a hoax. Even if the Dorsey firm is representing him in the securities class action in the Northern District of California — this is an unimaginably bad idea — he’s not the kind of guy who can keep his mouth shut, even to save his own skin.
I’ll think a lil’ more on it, overnight. It’s a crazy world — we live in.
UPDATED: PathoPhilia adds what I think are all excellent points here, after-hours, tonight [My thoughts/answers are in blue, below.]:
…Well, if it’s a hoax (and I had to check and re-check the date/year), it’s an elaborate one–complete with a trumped-up symposium website and photos of other speakers. Also wouldn’t Shkreli have to attend virtually? Otherwise he’d have to get permission from the federal judge to leave the NYC area.
Answer: No motion to travel is on file yet, but yes — he will absolutely either have to do it as a live-stream, from his man-cave in NYC — or get the able Judge to enter an order. We shall see.
I would also think that the Kalobios board would object to Shkreli being a de facto representative of the company and its ongoing development deal with Savant. If this doesn’t violate Shkreli’s agreement with the company outright, it certainly violates the spirit of it.
It makes me wonder (if it is not a scam) whether Mr. Hurst is trying to send a message to Dr. Durrant, et al., that he’s not pleased with the pace of things — or something else, entirely — related to the Savant execution. He MUST know that with all the new KaloBios has done to try and put Mr. Shkreli behind it — this will come as a very unwelcome jab in the eye. Mr. Hurst has to know this. Fascinating jujitsu, if that is what underpins this development.
And let’s not even get into Shkreli’s Twitter behavior–which completely undermines anything he might have to say in a future legitimate venue about the pharmaceutical business. A guy who repeatedly uses “thot” and “bish” should have no expectation of respect or being taken seriously–ever again.
I could not agree more completely. His Twitter feed reads like a profane, under-achieving high school kid (but convinced he knows it all!) — on too much Monster energy drink. And he regularly threatens people — including the Progressive wing’s presidential candidate with violence — a “bish slap.” So, if this is his version of trying to repair his reputation — all Dorsey & Whitney is doing is… ruining its own, here by association.
On a few quick clicks, I don’t think it represents Mr. Shkreli. Can’t tell if it represents any of the Savant entities. Just a colossally stupid move, in my opinion — on this otherwise well-respected firm’s part.
Again, just W.T.F. . . .