SIGA Technologies Inc (SIGA.PK) Key Developments | Reuters.com
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SIGA Technologies Inc (SIGA.PK)

SIGA.PK on OTC Markets Group

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24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

SIGA Technologies receives NASDAQ delisting notification
Wednesday, 18 Mar 2015 04:52pm EDT 

SIGA Technologies:Receives a letter from the Hearings Advisor for The NASDAQ Stock Market LLC.Indicating that the NASDAQ Hearings Panel has determined to delist the shares of the Company from the NASDAQ Stock Market and accordingly, suspend trading in the Company's shares effective at the open of business on March 20.SIGA expects its shares to continue to trade on the OTC Markets under the SIGAQ symbol.  Full Article

SIGA Technologies, Inc appeals judgment of Delaware Court of Chancery
Friday, 16 Jan 2015 04:10pm EST 

SIGA Technologies Inc:Files a notice of appeal from the judgment of the Delaware Court of Chancery awarding PharmAthene, Inc. expectation damages.On Jan. 15, the Court of Chancery entered a judgment awarding PharmAthene a lump sum of $113,116,985 plus prejudgment interest, costs and fees.Total amount of the judgment is $194,649,041.74.  Full Article

Delaware Court decision regarding SIGA Technologies Inc
Wednesday, 7 Jan 2015 05:29pm EST 

SIGA Technologies Inc:Says on Jan. 07, the Delaware Court of Chancery, acting on remand from the Delaware Supreme Court, issued a letter opinion in litigation begun by PharmAthene, Inc. in 2006.The Court has directed PharmAthene to submit a revised form of judgment awarding PharmAthene a lump sum of $113,116,985 plus prejudgment interest, costs and fees.SIGA estimates that, including pre-judgment interest through the date of SIGA's chapter 11 filing, the final judgment will be about $190,000,000.This opinion implements the Court's Aug. 08, 2014 decision on remand to reverse its own earlier findings that expectation damages are speculative, conditional and conjectural.Instead, to allow lump sum expectation damages based on hypothetical U. S. Government purchases of SIGA's smallpox drug in 2010 to 2015 that were supposedly anticipated in 2006.Either party may appeal the portions of the trial court rulings that were unfavorable to that party within 30 days of entry of judgment by the court.SIGA currently intends to appeal the judgment, but no assurance can be given that any such appeal will be successful.  Full Article

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