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Author Topic: Class action suit by shareholders  (Read 6286 times)
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glennablom
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« on: January 14, 2007, 02:41:29 AM »

Just read the class action suit from stockholders against Cyberonics for major financial games and misrepresentations.  What do you all think about this?
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Bernard
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« Reply #1 on: January 14, 2007, 10:50:45 AM »

class action lawsuit thread

Probably won't amount to much.  If the shareholders win, they will likely get some peanuts in the mail from a settlement.
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Check out this chart of alternative epilepsy treatments.
Birdbomb
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« Reply #2 on: January 14, 2007, 11:46:11 AM »

From what I've been reading, peanuts will be more than they have been getting.
Linning for that platnium parachute had to come from somewhere.


What are your thoughts glennablom?  We don't see you around here very often and this is an odd question for someone who very seldom visits.  Most VNS patients could care less about the workings of the comapany, although it does and can effect them in some way
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"If you are going through hell, keep going." (Sir Winston Churchill, 1874-1965)
VNS implanted Sept 02, turned off Dec 04, Generator ex-planted Nov 07
Electrodes are in me for LIFE!
glennablom
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« Reply #3 on: January 14, 2007, 11:35:46 PM »

The legal suit was very interesting.  Have you read it?  Plain language.  My interest is that now there are 1,600 of us that have it implanted for TRD.  The company promised the shareholders an unlimited market for this device, and there are other competing strategies in the news now - direct brain stimulation, and magnetic treatments that are not invasive.  If our gizmo doesn't go over well, there may be few doctors trained to use it or maintain it.  For example, my doctor went out of country this month and I need my adjusted.  I had it turned down because of physical pain - but I immediately fell into a terrible depression!  So now I need it adjusted and having trouble finding someone to do it.  The Cyberonics rep will be here Tuesday to train another doctor in the group's office.  You would think after Enron, Texas companies would get it together instead of making desperate attempts to fall just shy of meeting SEC and FDA requirements, as they have.
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Birdbomb
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« Reply #4 on: January 15, 2007, 04:21:00 AM »

IMO I believe your fears are validated, however, these are issues that those implanted for epilepsy have had to deal with.  Getting trained medical people to fill in when our regular doctors are not available.  

Cyberonics' VNS is really a "one trick pony"  This is all they make.  It's their bankroll and they are betting against the house.  I live in Vegas and EVERY knows the odds are in favor of the house.  Oh you may get lucky and get on a winning streak, but in the end, the house always wins.

IMHP, unless Cyberonis is bought out or a takeover happens, everyone with the implant has a very uncertain future.  Too many less invasive devises are being tested, marketed and will soon pass FDA aproval.
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"If you are going through hell, keep going." (Sir Winston Churchill, 1874-1965)
VNS implanted Sept 02, turned off Dec 04, Generator ex-planted Nov 07
Electrodes are in me for LIFE!
emeriol
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« Reply #5 on: January 24, 2007, 11:05:33 AM »

I think this fear of the company shutting down it's doors is probably not warranted.  They did approximately 100 million dollars of business last year.  That works out to over 5 thousand implants.  The product really does work for a lot of those patients.  If for some reason the lawsuit succeeds, the only major assets the company really has is it's factory and it's patents.  Hence, it would have to sell those to some other company to pay out the lawsuit.  That company would then manufacture and sell VNS units.

As for the other devices, even if they get FDA approval today, it will take many years before they get a large share of the "market".  And they don't all work in the same way.  In fact, one of them is really more invasive as it involves placing leads directly on the brain.
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glennablom
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« Reply #6 on: January 25, 2007, 01:07:30 AM »

Good point.  Who wants to wait years for relief.  I was thinking this morning that it is no more or less "invasive" than plastic surgery and people chose that all the time.  Plastic parts are put in, there are infection risks, and all for vanity!  For patients chosing VNS, we have the scars.  I wear them proudly because I benefit.  However, I do realize that some people have not have "good" surgeries and having ongoing problems with incisions, etc.
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Rocking4Epilepsy
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« Reply #7 on: January 27, 2007, 06:21:07 AM »

Glenna,
Can we get your opinion on this?
Do you have the VNS for Epilepsy?
How long have you had it?
Is it helping you?

Share with us.
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