Here is that Monday complaint at law (we mentioned earlier, as filed in Maryland's federal courts) -- and salacious would be apt; and is perhaps, an understatement. Of course, we will publish Dr. Tismarsh's reply -- when he files it. These are solely Tang's allegations, to be sure -- but they are backed by what appear on their face to be numerous genuine email and text screen-captures. Damn:
. . .Mere days after FDA announced it was taking action to effectively remove DTE from the market, Dr. Tidmarsh directed his personal lawyer, Joseph Galda, to email Mr. Tang and request that American Laboratories (referred to as ALI) extend a pre-existing services agreement with Dr. Tidmarsh "for another 10 years" in light of the fact "that ALI may have issues that require an extension of the services agreement" -- a statement that only can be construed as referencing FDA's recent announcement that it was taking action to effectively remove DTE from the market. Under Dr. Tidmarsh's proposal, American Laboratories now would be required to make payments until the year 2044 into a Dr. Tidmarsh-associated entity.
This request not only violated numerous federal laws that are designed to prevent government officials from abusing their office for private profit, but transparently reflects an attempt to extort and solicit a bribe from Mr. Tang in exchange for Dr. Tidmarsh using his power to reverse or otherwise mitigate the adverse impact on Mr. Tang, Tang Capital, and American Laboratories from FDA's recent action to effectively remove DTE from the market. . . .
Mr. Tang refused to submit to this shocking abuse of power, so Dr. Tidmarsh next trained his sights on another company where Mr. Tang is Chair of the Board and where Tang Capital is the largest shareholder: Aurinia. . . .
Despite knowing that [Aurinia's] voclosporin has demonstrated direct clinical benefit -- and in total disregard of the patients suffering from lupus nephritis and benefiting from treatment with voclosporin -- on the morning of September 29, 2025, Dr. Tidmarsh published a post on his personal LinkedIn page, falsely claiming that voclosporin “has not been shown to provide a direct clinical benefit for patients” and asserting that Aurinia had failed “to perform the trials necessary to confirm actual clinical benefit” from voclosporin. . . .
These statements are not only baseless, but indefensible and totally at odds with the available evidence and the conclusions of experts and regulators, including FDA, the agency for which Dr. Tidmarsh works. . . .
In a tacit admission of wrongdoing, Dr. Tidmarsh subsequently deleted the post and acknowledged he had no authorization to publish it in the first place. But the damage was done. His false statements caused Aurinia’s share price to plummet more than 20% in a matter of hours, wiping out more than $350 million in market value. . . .
[As my graphic indicates, a confidential official FDA review and letter process is the RIGHT way, if one assumes Dr. Tidmarsh's veiw is supported by solid evidence/science. Ultimately it would become public, when everyone has had a chance to vet the data and competing claims.]
So. . . damn; it would appear that -- top to bottom, Tangerine 2.0 simply runs, hires and appoints. . . a criminal enterprise -- even if it is a wildly inept one, it remains. . . festooned, with felonious behavior. Just. . . damn.
नमस्ते
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