Seeking Alpha
  • Alan Brochstein, CFA
    $VRNG 10-CTL points to 15-20% reduction of wins to pay legal fees
    11/14/12
    Reply (11)
    • JMattius: Hey Alan. I assume this is only on the $31million award and would not apply to running royalty? That would be a little too hefty.
      11/14/12
    • Alan Brochstein, CFA: JMattius, I think that it would apply to any award, including the royalties. This isn't new, but some apparently weren't aware
      11/14/12
    • JMattius: That seems excessive. If they get the 600 million some are throwing out, then they pay 100-120 million in legal fees? I chose the wrong job
      11/14/12
    • Alan Brochstein, CFA: I guess they would say that they could have gotten nothing! I won a case on contingency and wasn't glad to pay the fee but was glad to win
      11/14/12
    • JMattius: Well if that's the case then they better win a big amount if they are losing 20% off of the top. Hope the judge rules soon...
      11/14/12
    • Alan Brochstein, CFA: The company expects to hear from the judge in "weeks to months"
      11/14/12
    • JMattius: Hehe. I dialed in for the conference call. I love the pre-written statements and cryptic answers. Didn't expect much anyway until ruling
      11/14/12
    • Alan Brochstein, CFA: Call was rather stupid - it was a bunch of fan-boys and no real questions (at least that they could answer). Very professional team though
      11/14/12
    • Alan Brochstein, CFA: Strange that CFO wasn't on the call - guess when you have just 267K revenues, not a lot to talk about
      11/14/12
    • JMattius: Perlman did announce her being there but they let the COO present the earnings. Either way, no big revelation but who expected anything...
      11/14/12
    • Alan Brochstein, CFA: I had thought that these were perhaps the full legal fees - turns out they pay some cash too
      11/15/12