Analysts and researchers quickly critiqued the Sorrento executives' claims, accusing them of using the pandemic as a springboard to capital needed to keep the company running.
July 28, 2021 at 03:26 PM
2 minute read
The original version of this story was published on Delaware Business Court Insider
A California biopharmaceutical company that claimed to be developing a cure for COVID-19 at the beginning of the pandemic faces new accusations leveled by shareholders in the Court of Chancery.
A shareholder, represented by Blake Bennett of Cooch and Taylor, says in a derivative complaint filed Tuesday that executives of San Diego-based Sorrento Therapeutics Inc. breached their duties to the company in an ill-fated attempt to raise funds by selling stock.
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