Kellner Group Denounces False Rumors About AIM Short Selling and Demands Immediate Accountability from Incumbent Board

The Kellner Group, a significant shareholder of AIM Immunotech (AIM), has recently come forward to refute false rumors about AIM's short selling activities and demand immediate accountability from the incumbent board. With a 5.04% ownership stake in AIM, the Kellner Group is fully aligned with other stockholders, seeking to protect and enhance the value of their investment. In this article, we will delve into the reasons behind the Kellner Group's stance, the evidence they present to refute the false rumors, and the impact of their 5.04% ownership on their ability to drive change within AIM.

The Kellner Group's opposition to short selling is rooted in the belief that it undermines AIM's stock price and overall market confidence, ultimately hurting all shareholders, including themselves. By denouncing false rumors about AIM short selling, the Kellner Group is advocating for the best interests of all AIM shareholders, including their own significant stake. The group has presented evidence of the incumbent Board's breach of fiduciary duties, gross waste, and lack of transparency to refute the false rumors.

The Delaware Supreme Court's ruling that the Board breached its duty of loyalty, and the federal district court's sanction of AIM for pursuing frivolous arguments against the Kellner Group, serve as strong evidence of the Board's misconduct. The Kellner Group estimates that the Board has spent between $15.0 to $20.0 million in the past two years on litigation against stockholders, which is approximately equal to AIM's entire market capitalization. This wasteful spending, instead of being used for research and development, has led to AIM's stock price decline of 99% and its financial condition being in serious jeopardy.

The Kellner Group's 5.04% ownership, while significant, may not be sufficient to unilaterally drive change within AIM Immunotech. However, it does grant them a platform to advocate for accountability and influence other stockholders. Their alignment with stockholders, as highlighted in their press releases, suggests they are acting in the best interests of all shareholders, not just their own. By urging stockholders to vote for their nominees, they aim to leverage collective power to effect change.

In contrast to the Kellner Group's commitment to accountability and shareholder value, the incumbent board, under the leadership of Thomas Equels, has overseen a 99.7% stock price decline since 2016, with accelerating losses and excessive G&A expenses. The board's breach of fiduciary duty, gross waste, and lack of transparency disqualify them from leading AIM, while the Kellner Group offers a clear plan for value creation.

In conclusion, the Kellner Group's denouncement of false rumors about AIM short selling and their demand for immediate accountability from the incumbent board are crucial steps in protecting and enhancing the value of AIM's investment. Their evidence of the Board's misconduct and commitment to shareholder interests highlight the need for change within AIM Immunotech. While the Kellner Group's 5.04% ownership may not be sufficient to drive change unilaterally, their alignment with stockholders and advocacy for accountability offer a path towards a more prosperous future for AIM and its shareholders.