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Reading between the lines the DHSC perhaps ready to throw in the towel :)
Wow…subjective, however perhaps this trial won’t go the distance and the DHSC shall attempt to settle the claim…..here’s hoping!!
In law, a summary judgment, also referred to as judgment as a matter of law or summary disposition,[1] is a judgment entered by a court for one party and against another party summarily, i.e., without a full trial. Summary judgments may be issued on the merits of an entire case, or on discrete issues in that case. The formulation of the summary judgment standard is stated in somewhat different ways by courts in different jurisdictions.
In England and Wales, the court rules for a party without a full trial when "the claim, defence or issue has no real prospect of success and there is no other compelling reason why the case or issue should be disposed of at a trial."
Https://twitter.com/Larry64450205/status/1781178730330595837?t=8jrbu7QA93xUqAf1ZYAudw&s=19
Update on DHSC claim - Pre-trial review
Automatic translation :
As previously announced, the Company and its subsidiary Primer Design Ltd are parties to litigation with the DHSC. The first instance hearing is scheduled to commence on 10 June 2024 and conclude on 4 July 2024. The Company expects
that the court will take its time in reaching its judgment, which means that the outcome of the trial will not be known on 4 July 2024.
The court has set 30 April 2024 as the screening date. This is part of the normal litigation process and relates primarily to administrative preparations for the trial.
The court will also hear an application for summary judgment made by DHSC in respect of one aspect of its claim, in which DHSC requests that judgment be entered for the full value of its claim. Having obtained legal advice, the Company considers that this claim is very precarious with little prospect of success, and is confident that the court will dismiss the claim. It is not known when the court will rule on the claim. It may be during or at the end of the pre-trial review, or shortly thereafter.
And how short the memory was for all companies that tried to help , when the country was in need , disgrace! The way they've all been treated . Personally I think this will have some weight in the mind of the court, extraordinary times these companies worked in
Only really tarnished thing here is the dhsc! & those that control its actions!
next pandemic (whatever species) they will come begging!
Sold into the 68p & now wanting back in lower?
#dontletthem imo
Https://www.gov.uk/government/news/diagnostic-checks-rolled-out-to-160-sites-under-cdc-programme
DHSC are investing billions in diagnostics our DPYD assay which determines and outlines cancer mutations is just one of many tests they will be looking to take on board
No gamble, they’ve already agreed in principle , DHSC will claw it back with a heavily discounted new contract with us after our rebranding has taken place to remove the tarnished name
I really hope Novacyt does win the case , mainly for some of the great LTH who have lost a lot of money here since its glory days . You guys know who you are ..
However could the outcome be less favourable for Novacyt the company could be in a lot of trouble financially and with an even worse reputation for trust with any new potential customers and a CEO with a very questionable history I still think there is a huge gamble in investing even now .
Disagree - a large number of shareholders sold up after the revelation of the dispute hence the SP crash.
I think you are wrong Trustedinvestor.
I think there are many long term shareholders locked in.
Like myself hoping to recover at least partial losses in due course.
Warren...I doubt it has been settled and leaked ..it seems to have been under a pretty tight NDA.
April may...would have been my guess at a settlement all along....it is a game of chicken...so we we are close or close to the court date.
There will be some froth in the market leading up to it.
And now is defo the time to get in if you want to speculate
No, there's absolutely no indication that they have or haven't settled. We've seen temporary spikes like this time and again over the last 3-4 years.
As someone stated earlier. 70% of these type of disputes are settled before the court case so it's likely that is the case.
Does anyone think they might have settled or being in the process of agreeing a settlement to save the legal costs which I imagine would be astronomical on both sides.
Thing is saint..cash would underpin the sp to a certain extent.
I would go as already said...but any dip in sp would being others who would look at value more on cash held.
Maybe not frustrated with the company so much or not aware of the last two years of non progress.
There are not that many long term shareholders left from the Covid days. I don’t think there would be a SP crash if we win the case. There would be new investors particularly IIs if the court case goes to Ncyt’s favour. If we lose, run for the hills! At the moment, it is looking favourable for Ncyt as DHSC used the fully approved tests before the dispute started.
Loose bowels?
Hmm , should Novacyt win this court case . I imagine 95% of share holders will run for the hills once and or if the likes of £3 to £4 are ever reached again , thus crashing the share price .
I know I would based on the companies pitiful performance in marketing , sales, PR and treatment of shareholders since the covid days windfall .
Especially with such a chancer now at the purse strings as our new CEO .
He ruined YGEN what is to stop him doing the same here , albeit with a larger war chest or no cash at all should Novacyt loose the court case .
Why would they, we are valued at less than true value? it is just market bringing us up a bit closer to court case... #KEEPGOING :)
We still have around 7 weeks to go before court case . A steady raise every day / weekly from now , should get to £2-4 by the court case . I still think this will go to court as Novacyt mean intent in getting their £81.5 M + interest + clear their good name
Agreed Harchris - if it were a rise of 50% in a day fueled by a rumour on twitter etc...then possibly
CS no way that's happening with market cap just a tad higher than the net cash position.
If it carried on in a straight line to £2 (with nothing actually happening re the dispute behind the scenes) then sure they might be obliged to put something out, but not 50p to 70p!
This latest move started with a determined buyer late on Monday that's continued all week. Do they have an inside track as to what's happening re the dispute? Possibly but more likely they're simply happy with the risk:reward on offer here and are building a position ready for that news. And then you'll have traders liking the 'signals' and following them in.