I am not sure what to say about this — Here is the full six page letter, in context. I do not wish to defame him (go see his LinkedIn page — prior to the below he was in some role at Elona Pharma), but… geez:
…Because Mr. Prensky does not have a curriculum vitae, we provide the following relevant information relating to Mr. Prensky’s background and experience: From May 1997 through in or about 2015, Mr. Prensky served as Managing Director of Little Bear Investments LLC.
As Managing Director of Little Bear Investments, Mr. Prensky was involved in managing money and assets of his family. From 2003 to 2010, Little Bear also managed the capital of a single partner who subsequently sold his interest back to the Prensky family a short while after 2011. While Managing Director of Little Bear, Mr. Prensky was directly involved in evaluating and considering whether to invest money in approximately one-hundred (100) PIPEs, most of which were in the life sciences area, specifically for public companies that were pre-revenue. Of the approximately 100 PIPEs that Mr. Prensky was involved in evaluating, Mr. Prensky oversaw the investment by Little Bear Investments and/or its affiliates in approximately 15 PIPEs, many of which were in early-stage, life science companies.
In August 2013, Mr. Prensky participated in Retrophin’s $4.50-per-share PIPE, and was the single largest non-institutional investor in that funding round. In or about 2015, Mr. Prensky co-founded and became Chief Executive Officer of LB Pharmaceuticals. Mr. Prensky holds that same position today. From in or about 2007 through in or about 2009, Mr. Prensky also served as a proprietary trader for Koyote Capital. Mr. Prensky attended Yeshiva University for approximately two years, but did not graduate.
Over the years, the Staff of the Securities and Exchange Commission has sought information from Mr. Prensky about, among other things, other companies, and Mr. Prensky voluntarily provided such information in the interest of assisting government investigations.
In connection with this matter, the U.S. Attorney’s Office for the Eastern District of New York (USAO for the EDNY) and the Federal Bureau of Investigation (FBI) have contacted Mr. Prensky and asked to speak with him at his office on at least two occasions.
The first occasion took place in or about the Fall of 2017 when the USAO for the EDNY and the FBI spent time with Mr. Prensky at Mr. Prensky’s office asking him questions. The second occasion occurred on or about May 31, 2018, when the USAO for the EDNY and the FBI again spent time with Mr. Prensky at Mr. Prensky’s office asking him questions. We have just learned that some of the information provided by Mr. Prensky during the interview in the Fall of 2017 would apparently constitute Brady and Giglio material, and we have asked the USAO for the EDNY to provide copies of all FBI reports and AUSA notes reflecting both of the interviews….”
So… is/was this guy a confidential government informant? Did this guy steal Marty’s thunder, in giving up other hedge funders? Truly bizarre. Was this the best Mr. Greebel could do? Why would anyone assume his view is independent, on loss calculations, in this particular (Retrophin related) case?
I have only more questions, from here. Paging R. West — paging R. West… G’night….