Key Developments: SIGA Technologies Inc (SIGA.OQ)

SIGA.OQ on NASDAQ Stock Exchange Global Market

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26 Nov 2014
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Latest Key Developments (Source: Significant Developments)

SIGA Technologies Inc receives Bankruptcy Court approval for first-day motions in connection with Chapter 11 case
Wednesday, 17 Sep 2014 07:46pm EDT 

SIGA Technologies Inc:Says that it has received Bankruptcy Court approval of 'first-day' motions that it filed on Sept. 16, ate on which it filed voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for Southern District of New York.Approval of these 'first-day' motions by Bankruptcy Court will assure that SIGA's operations will continue seamlessly in chapter 11 and that it will be business as usual.  Full Article

SIGA Technologies Inc files for chapter 11 reorganization
Tuesday, 16 Sep 2014 06:48am EDT 

SIGA Technologies Inc:Files voluntary petition for relief under chapter 11 of United States Bankruptcy Code in the United States Bankruptcy Court for Southern District of New York.SIGA commenced chapter 11 case to preserve and to assure its ability to satisfy its commitment to supply Tecovirimat, an antiviral smallpox drug being delivered to U.S. Strategic National Stockpile under the Project BioShield Act of 2004.SIGA intends to operate during the chapter 11 period as a going concern for the benefit of the U.S. government and all economic stakeholders.Says chapter 11 filing will ensure that SIGA continues to supply Tecovirimat pursuant to its contract with Biomedical Advanced Research and Development Authority and is able to pursue what it believes is meritorious appeal of pending Delaware Chancery Court proceeding.  Full Article

SIGA Technologies, Inc announces Court of Chancery issues ruling on remand in PharmAthene litigation
Sunday, 10 Aug 2014 08:00pm EDT 

SIGA Technologies, Inc:Says that, on Aug. 8, 2014, the Delaware Court of Chancery issued its decision on remand in the litigation begun by PharmAthene, Inc. in 2006.Says in his opinion, Vice Chancellor Parsons determined, that PharmAthene is entitled to a lump sum damage award in a still unspecified amount, with interest and fees, based on U. S. Government purchases of SIGA's smallpox drug supposedly anticipated in 2006.Says the total award is likely to be substantial, but it will not be established until after the Court considers calculations to be provided by a designated expert.In coming to its conclusion, the Court reversed its own prior ruling that expectation damages were not recoverable because they were too speculative.The Court's most recent decision now holds that expert testimony from the original trial, which it had previously found to be too speculative, supports an award of expectation damages.  Full Article

Delaware Supreme Court Reverses Award Of 'Equitable Payment Stream' By Court Of Chancery In May 31, 2012 Final Order And Judgment In PharmAthene, Inc. v. SIGA Technologies, Inc.
Sunday, 26 May 2013 04:12pm EDT 

SIGA Technologies, Inc. reported that the Delaware Supreme Court reversed the award of an 'equitable payment stream' by the Court of Chancery in its May 31, 2012 Final Order and Judgment in PharmAthene, Inc. v. SIGA Technologies, Inc. and also remanded the case to the Court of Chancery for further proceedings to determine appropriate damages.  Full Article

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