Apr. 8 at 12:25 PM
$OPGN In reviewing OPGN’s litigation response submitted on March 17, it seems their lawyers are setting the bar high to exert pressure on the Nasdaq market to negotiate a settlement. They are not only accusing the Nasdaq of not following their own rulebook but they also violated the laws and their mandate. See the paragraph below from OPGN’s response:
“In sum, because Nasdaq has violated the Exchange Act, its own rules, the constitutional private nondelegation doctrine and fundamental principles of fairness in delisting OpGen, OpGen requests that the delisting be set aside by the Commission”.
The Nasdaq would not want the SEC to rule that they violated the law and their mandate, as such ruling will be a bad precedent for Nasdaq. I think such strategy by OPGN may result in a settlement that may come sooner than the SEC ruling. David Lazar used such strategy in 2024 when he initiated litigation in the case of Minim, Inc. and reached a favorable settlement with the Nasdaq.
