Is SQNM a better model for what might happen?

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Anonymous

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They had a couple high level people go to jail for "data manipulation" that made the stock soar.

Anyone know what happen with shareholder suits?

I still don't think Qwest is the best precedent for the company, Nacchio for Gold yes, Qwest for Dendreon, no.
 






Phony revenue guidance is an accounting crime. CFO is deeply involved as well. He is also named in shareholder suits. While the crime itself isn't exactly the same as Qwest, it is accounting as well and of course inadequate internal controls or internal controls that were ignored. Board allowing company company to not have a Chief Compliance Officer while hundreds of layoffs were going on and while RR may have been committing Medicare Fraud according to another poster here. No matter how much you try to make this a Golden problem, you will see it was a company wide fraud and has to be treated as such. No one even talks about the bond offering under false pretenses. In 1.5 years the bond offering went from a low interest bond with an achievable convert option to a complete junk bond trading at less than 70 cents on the dollar with an impossible convert option. IMO the result will encompass many including at least one board member... These are company crimes my friend.
 






The Revenue Guidance is covered in "forward looking statements" and "risk factors" in the 10-k. Company is covered by this language.

"This news release contains forward-looking statements that are subject to risks and uncertainties. Factors that could affect these forward-looking statements include, but are not limited to, developments affecting Dendreon's business and prospects and potential revenue and earnings from product sales, and progress generally on commercialization efforts for PROVENGE. Information on the factors and risks that could affect Dendreon's business, financial condition and results of operations are contained in Dendreon's public disclosure filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. Dendreon cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to Dendreon on the date hereof, and Dendreon undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law."
 






Safe Harbor does not give license to commit crimes by issuing phony guidance The facts of this case bill bear that out. Know the facts of this case and federal securities laws before you spread your ignorance. DNDN's only defense will be to claim Safe Harbor and IMO they will be destroyed in a court of law when the facts of this case are uncovered. Thanks for stating your defense but that was obvious becuse it is the only thing you can grasp on to. Your post is BASELESS. Idiot!!!

Dendreon's (Nasdaq:DNDN) stock collapses after earnings statement.
"The shareholder lawsuit filed against Dendreon alleges that DNDN greatly OVERSTATED the projected sales of the cancer drug Provenge and MISLED investors by issuing FALSE statements about the drug. Dendreon had made statements projecting their 2011 sales to be between $350 million to $400 million. These figures turned out to be COMPLETELY UNFOUNDED"
 






Anonymous said:
Dendreon undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law."
Click to expand...

You were required by law and waited as long as you possibly could before start of 4th quarter. Every company with baseless projections claims they are innocent too and attempts to hides behind Safe Harbor. All you have to do is read about Safe Harbor and you will see that your case is a loser. Bye Bye!!
 






Your the idiot and complete fool. Companies miss guidance all the time. Companies are not put out of business for missing guidance. Moron take your short scare tactics somewhere else - this a message board for sales professionals - and not for kindegarten intelligence level short investors.
 






From DNDN May 7 10Q about the class action:

"A consolidated amended complaint was filed on February 24, 2012. In general, the complaints allege that the defendants issued materially false or misleading statements concerning the Company, its finances, business operations and prospects with a focus on the market launch of PROVENGE and related forecasts concerning physician adoption, and revenue from sales of PROVENGE as reflected in the Company’s August 3, 2011 release of its financial results for the quarter ended June 30, 2011."

The general issues in the class actions that DNDN stated in the quote about class actions are:

1. Materially False or Misleading Statments regarding:
A. The Company
B. The Company's Finances
C. The Company's business operations
D. The Company's prospects as relating to the market launch of Provenge and related forecasts including revenues.

It seems that many legal minds do not believe these allegations are covered under Safe Harbor. Safe Harbor was created to help prevent frivolous lawsuits. Safe Harbor was not created to give companies license to commit crimes and then hide behind Safe Harbor just as 10b5-1 stock plans were not created to give license to executives to illegally sell shares and then hide behind the 10b5-1 plans. See Joseph Nacchio on that one. Bye Bye!
 






"bye-bye"

What are you going to play in the sandbox in the playground with your short buddies. The lawsuit will be settled out of court for pennies on the dollar to end the legal claims against the company like every other lawsuit against development stage commercial companies missing guidance. Hopefully Gold will wind up in jail for insider trading.
 






Anonymous said:
Your the idiot and complete fool. Companies miss guidance all the time. Companies are not put out of business for missing guidance. Moron take your short scare tactics somewhere else - this a message board for sales professionals - and not for kindegarten intelligence level short investors.
Click to expand...

Companies miss guidance all the time. Most of the time legally and covered under Safe Harbor. Sometimes not. This case is clear. I never said DNDN will go out of business because of what happened and I don't think they will. They have a viable product and the company will always be worth something to someone. I do believe it will not be possible for them to survive without being bought. That isn't about the product. It is about business.

You say this is a message board for sales professionals. You are right. This is definitely not a place where a short would have success driving down the stock. I am not short or long. I was never short. I do not short stocks.

The OP was comparing the DNDN case to SQNM. I responded. You then also added to the thread on topic. I responded. I shouldn't have called you an idiot and I apologize. I also apologize for answering so strongly but it was offensive to me when I saw you say what many guilty parties try to do which is hide behind things like Safe Harbor and 10b5-1 plans.

I hope you create sales-oriented threads. They are very pertinent to me as well.
 






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