posted on
Apr 22, 2008 02:30PM
Two reasons: 1) Common sense - they own 50% of PDS, TPL just has licensing rights for PDS. They have to know what is going on that affects their ability to conduct a business and make decisions for the future. They are not just sitting around picking their nose waiting to see what numbers show up in the 10Q like we are; 2) They are not suing TPL - If TPL was entering into NDAs without PTSC approval there would be an inherent conflict of interest since TPL has no shareholders to answer to and they would be breaching their fiduciary duty to PTSC as well as their contractual obligation to not act in such a manner that is harmful to PTSC.