Phil Frohlich, Prescott Group Ask For PharmAthene Shareholder Meeting

PharmAthene, Prescott Group Capital Management: After Phil Frohlich, manager of Prescott Group Capital Management, disclosed his ownership of 10% of PharmAthene, Inc. (NYSEMKT:PIP) a couple weeks back, now he’s requested that the company call a special shareholder meeting for November 1. The scope of the meeting is adopting two resolutions in relation to PharmAthene’s civil actions against SIGA Technologies, and some general business matters.

The whole text of the letter sent by Frochlich to PharmAthene can be read through accessing the link below.

Prescott Group Capital Management Letter to PharmAthene

Earlier in May, the Delaware Supreme Court confirmed an earlier decision that SIGA Technologies broke its contractual obligation to negatiate in good faith. The case has been remanded to the Delaware Court of Chancery for reconsideration of the damages award, consistent with the Supreme Court’s opinion, PharmAthene said in a statement.

Benjamin J Taylor‘s  Sophrosyne Capital is also a shareholder of PharmAthene with a stake of 804,902 shares reported at the end of the second quarter.

Disclosure: none

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