Aug. 12 at 10:52 PM
$ACORQ
Milak says the executives needed to keep the share price above
$1, so that Acorda would not be delisted on the Nasdaq exchange before filing for bankruptcy. He also alleges that the executives received multi-million payouts on a “backend deal they arranged for themselves.”
On July 10, Merz Therapeutics, of Frankfurt, Germany, announced that it had purchased the rights to Ampyra, Inbrija and other assets for
$185 million, in a bankruptcy court sale.
Efforts to find contact information for Cohen and Gesser, to ask for their sides of the story, failed. Acorda’s bankruptcy attorney, Blaire Cahn, did not reply to an email asking for comment.
