Court rulings that allowing the claim to proceed would be unlawful
Purpose of investor protection

AIM’s stock price continued its dramatic decline, closing at a new 52-week low of $0.479 on October 12, 2022, down more than 35% since July 18, 2022, when AIM’s now dismissed lawsuit filed against the ASFV committee

Concerned AIM Board is selectively disclosing incomplete information regarding pending cases
Action by Delaware to distract from mistakes

NEW YORK, Oct. 13, 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 the U.S. District Court, Middle District of Florida, dismissed the lawsuit brought by AIM (the “Florida Lawsuit”) in its entirety and without prejudice to the members of the ASFV Committee and others Persons who unsubstantiated allegations that the members of the ASFV Committee acted as a group with certain shareholders of AIM in violation of Section 13(d) of the Securities Exchange Act of 1934.

The court ruled that AIM was not entitled to bring the lawsuit based on longstanding binding precedent. Citing that precedent and the purpose of Section 13(d) to protect investors and potential investors, rather than the company and incumbent management, the court found that “…outsiders who challenge incumbent management contribute to it to protect the interest of the small shareholders in the supervision – by potentially challenging – acting management.” Furthermore, “[t]The threat of such a lawsuit could force off a player whose self-interest is to oversee management.”

“We are pleased with the judge’s ruling and confirm that, consistent with its pattern for the past six years, AIM’s incumbent board of directors is wasting corporate resources as part of a desperate attempt to hole up and enrich and avoid…