Jonathan Jorgl, an AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM”) stockholder, together with his nominees, Robert L. Chioini and Michael Rice (collectively, the “AIM Stockholder Full Value Committee” or the “ASFV Committee”), today announced that the U.S. District Court, Middle District of Florida, dismissed in its entirety, without prejudice, the action brought by AIM (the “Florida Action”) against the members of the ASFV Committee and other individuals baselessly alleging that the members of the ASFV Committee were acting as a group with certain stockholders of AIM in violation of Section 13(d) of the Securities Exchange Act of 1934.

The court ruled that AIM lacked standing to bring the claim based on long-standing binding precedent. Citing that precedent and the purpose of Section 13(d) in protecting investors and potential investors rather than the corporation and incumbent management, the court noted that “ ... outsiders who challenge incumbent management, help protect the small shareholders’ interest in monitoring - by possibly challenging - incumbent management.” Further, “[t]he threat of this sort of litigation might remove from the field a player whose self-interest is to monitor management.”

“We are pleased with the Judge’s ruling, confirming that consistent with its pattern over the last six years AIM’s incumbent board is wasting corporate resources as part of a desperate attempt to entrench and enrich themselves and avoid accountability to stockholders, in this case attempting to use frivolous litigation,” stated the ASFV Committee. “The incumbent board had no factual basis or evidence to their allegations against the ASFV Committee in the Florida Action and ignored clear binding precedent in a blatant attempt to bully us and outspend us into submission. Mr. Mitchell, Mr. Applerouth and Mr. Equels are continuing to waste corporate assets, which belong to stockholders not the incumbent directors, solely to deny those same stockholders a meaningful choice in who represents them on the Board. For the incumbent board to waste $2.5 million of company money just to protect their excessive compensation while the company’s stock price has plummeted 99%, instead of deploying that money towards clinical development of a potential therapy that could possibly help cancer patients, is truly unfathomable, and clearly demonstrates the current board is incapable of fulfilling their fiduciary duties.”

The ASFV Committee continued:
In another desperate effort by the incumbent directors to mislead stockholders and distract from the serious issues facing AIM, yesterday, just one day after the dismissal of the Florida Action, AIM made a filing with the SEC selectively disclosing certain elements in the pending Delaware action. Shockingly, this filing included cherry-picked, incomplete and misleading information disseminated by the incumbent AIM board and made no mention whatsoever of the dismissal of the Florida Action, which AIM had previously touted in press releases and SEC filings. What has become evident is that the incumbent directors are now panicking that they may lose their board seats (and excessive compensation) in a fair election and are desperately trying to change the narrative yet again, and it’s transparently pathetic. The preliminary injunction hearing in Delaware was held on October 5th, and the parties are currently awaiting a ruling. The ASFV Committee remains confident that Mr. Jorgl’s nomination was valid. Until the court rules, stockholders should not be distracted by cherry-picked, incomplete and misleading information disseminated by the incumbent board.

It is time for accountability and much needed change at AIM – the ASFV Committee urges all stockholders to vote on the GOLD proxy card today to elect ONLY Robert L. Chioini and Michael Rice.

It is important that you mark the boxes for Robert L. Chioini and Michael Rice ONLY and leave the boxes for the incumbent AIM directors unmarked.


Alliance Advisors, LLC200 Broadacres Drive, 3rd FloorBloomfield, New Jersey 07003(877)

Important Information and Participants in the Solicitation

The ASFV Committee has filed a definitive proxy statement and associated GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of its slate of highly-qualified director nominees at the Annual Meeting. Details regarding the ASFV Committee’s nominees are included in the proxy statement.


Information regarding the identity of participants in the ASFV Committee’s solicitation, and their direct or indirect interests, by security holdings or otherwise, is set forth in the ASFV Committee’s proxy statement. Stockholders can obtain a copy of the proxy statement, and any amendments or supplements thereto and other documents filed by the ASFV Committee with the SEC for no charge at the SEC’s website at Copies will also be available at no charge at the following website: Investors can also contact Alliance Advisors at the telephone number or email address set for the above.

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