It seems to be a perfectly fine company. But one of its current members of the smallish board of directors founded Batuta Advisors, a controlled/controlling affiliate of the entity that gave the independent financial advice, and oversaw the valuation work (wait for it!) — in the KaloBios Chapter 11 consensual workout.
Again, I am sure that director is an entirely ethical man.
But I am equally sure Mr. Shkreli is. . . the opposite of all that. Just my opinion.
So in some more non-Merck-ified fare. . . I wrote this last night elsewhere.
Since we are offering pure trivialities on this Friday evening, let me close with an ironic one: Mr. Shkreli claims he lost over $1 million that he says he invested in something called AudioEye, and so he is (wait for it!) filing a securities class action suit. Uh-huh. And “the class” is… one person — more of gnome if the truth be known, and less a fully formed human.
Martin Shkreli: “…I invested $1,050,000 in Audioeye
@audioeyeinc and lost nearly all of it. I’m moving forward with a class action. RIP Audioeye…”
You see Mr. Shkreli, there have to be others similarly situated, for it to be even considered as a class action. But you go right on ahead, Perry Mason, Jr.!
It is fascinating, though that the founder of Batuta Advisors (remember that name from KaloBios’ bankruptcy!?) is/was on the board of AudioEye. Click image at right to embiggefy, again.
Small world. Small world, indeed.
I am sure — without doing any real diligence — that AudioEye is a perfectly fine company. To elaborate on my guesses here, though, I could easily imagine that Mr. Shkreli THOUGHT (incorrectly, of course) that by putting $1 million into AudioEye, he’d be able to subtly influence the valuations — and thus his ultimate payout — in the KaloBios Chapter 11 exit.
He was incorrect simply because most business people endeavor to be honest.
In topsy-turvy Shkreli world, then — being honest and doing one’s job on a board or as an advisor is. . . a fraud — at least as to Mr. Shkreli’s (allegedly) dishonest schemes. So he is suing AudioEye, in retribution. That’s the Condor guess.
Yep — that’s my thought. Now you know. And. . . Go Cubs Go!