Cobalis Suit Over Hedge Fund Scheme Tossed In NJ

Law360, New York (August 06, 2013, 8:48 PM ET) -- YA Global Investments LP on Monday defeated a New Jersey lawsuit in which Cobalis Corp. investors accused the hedge fund of plotting a short sale scheme and fraudulently coaxing them to pledge stock in a financing deal for the pharmaceutical company, which ended up filing for bankruptcy.

U.S. Judge Dennis Cavanaugh found that the allegations of Radul Radovich, the father of Cobalis President and CEO Chaslov Radovich, and other Radovich family-owned entities had been litigated and decided in other cases and that the suit represented “another...
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