NEW YORK, Oct. 24, 2022 (GLOBE NEWSWIRE) — Jonathan Jorgl, a shareholder of AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM”), along with his nominees Robert L. Chioini and Michael Rice (collectively the “AIM Stockholder Full Value Committee” or the “ASFV Committee”), announced today that several alarming statements by the acting directors have been uncovered through the disclosure process in the pending Delaware lawsuit in which the parties are awaiting a decision. The ASFV committee remains confident that Mr. Jorgl’s nomination was valid. Pending the court’s decision, shareholders should not be distracted by well-chosen, incomplete and misleading information being disseminated by the incumbent board of directors.

“We believe that the incumbent AIM board’s statements about shareholders, the expectation of excessive compensation and the tactic of refusing to nominate shareholders are truly reprehensible,” the ASFV committee said. “The actions of the board of directors prior to the ASFV nomination and thereafter clearly demonstrate their breach of their fiduciary duties to the company and its shareholders. We believe it is clear that this established board does not put the interests of the company and its shareholders first when making decisions and evaluating opportunities.”

What was actually learned from the discovery, along with many other disturbing insights not due to a board of directors, was this:

The incumbent board doesn’t care that shareholders suffer massive losses

• All directors testified during their testimonies that they did not pay much attention to the falling stock price of AIM and did not take responsibility for its decline, even citing “the war in Ukraine”, Vladimir Putin, the COVID-19 pandemic, and “Stock manipulation” schemes by unknown actors.
• William Mitchell – AIM’s CEO – also testified that “the only thing that worries him” is that the stock price will fall if the price gets low enough to…