Drug Co. Scores Partial Win In Suit Over Botched Offering

Law360, New York (May 17, 2013, 7:42 PM EDT) -- A Delaware judge on Thursday granted a partial win to Emmaus Life Sciences Inc. in a suit over a botched public offering, ruling the drugmaker properly voided an agreement with an alleged check kiter and his company AFH Holding & Advisory LLC.

Delaware Superior Court Judge Mary Johnston found that the wording of a May 2011 letter of intent between Emmaus and AFH allowed the drugmaker to void its agreement with Amir Heshmatpour and his company because they were unable to secure at least $10 million...
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