Stock trades, some interesting and progressive articles. Look at ACA news . Someone said 80p here would be good, no try 150p onwards. Stronger here because INDV can either do a deal or fight in court, so not all bad. If they settle before court date it would imply a very good deal vs. lower anticipated fine should they lose. Wtfdik gla.
99% wrong about case closure. We have no idea of the negotiations, can they still participate in healthcare programs? How big a settlement value is, indications are it will be higher, as noted in the Risks section in previous RNS. How much higher etc. It would be very strange for RB. To settle leaving Indivior hanging because it is only Indivior who have been Indicted. Shorters under 0.5% have suddenly turn the screw substantially from when it hit 52p early July before 60p gap up... What do they know is the question. 7 business days post 11th July RB needed to make an initial payment. Takes us to 22nd.... So it's becoming extremely VOLATILE at mo. 201K shares now.
Brandon Garrett, a professor at Duke University School of Law, told Corporate Counsel the agreement was unusual. “It is typical for a corporation to admit, accept, and acknowledge responsibility for both acts set forth in a statement of facts and specific criminal law violations, in a nonprosecution agreement,” Garrett said.
He said it is also typical for the agreements to include language that prohibits the company from denying its acceptance of responsibility. There is no such language in this agreement. Attorney Ryan McConnell, a former federal prosecutor and founder of the R. McConnell Group in Houston, said he has “never seen a nonprosecution agreement without that sentence.”
Not only does the agreement not carry the language, a separate civil settlement in the case explicitly states that RB Group does not admit liability and “denies the allegations in the covered conduct [section] and in the civil actions” brought by six whistleblowers.
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The U.S. Department of Justice’s press release did not mention the denial. But the RB Group issued its own media statement, saying, “While RB has acted lawfully at all times and expressly denies all allegations that it engaged in any wrongful conduct, after careful consideration, the board of RB determined that the agreement is in the best interests of the company and its shareholders. It avoids the costs, uncertainty and distraction associated with continued investigations, litigation and the potential for an indictment.”
McConnell, who is an occasional contributing writer to Corporate Counsel, said nonprosecution agreements also usually contain a statement of facts