Los Angeles Court Rejects Patrick Soon-Shiong’s Attempt to Avoid Sorrento Litigation Allowing Arbitration Case to Move Forward
Sorrento Therapeutics, Inc. (SRNE)
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Source: GlobeNewswire
SAN DIEGO, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento") announced today that a Los Angeles Superior Court judge has rejected Patrick Soon-Shiong’s attempt to allow him and his company, NantPharma, to avoid the billion-dollar fraud and breach of contract claims that Sorrento filed against them earlier this year. Sorrento’s claims relate to the “catch and kill” scheme that Soon-Shiong allegedly orchestrated to keep Sorrento’s promising cancer drug, Cynviloq, off the market in order to preserve Soon-Shiong’s personal financial interest in another competing drug. In his ruling, which was dated October 9th but was served upon Sorrento on October 15th, the Los Angeles Superior Court Judge, among other things, denied Soon-Shiong’s and NantPharma’s motion to stay or dismiss Sorrento’s arbitration against them, thus allowing the case to proceed in full. The Court also granted Sorrento’s motions to compel Soon-Shiong entity NantCell’s counterclai
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- Sorrento Therapeutics, Inc. (NASDAQ: SRNE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sorrento Therapeutics, Inc. (NASDAQ: SRNE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sorrento Therapeutics, Inc. (NASDAQ: SRNE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sorrento Therapeutics, Inc. (NASDAQ: SRNE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat