Hedge Fund's AIA Attack Should Have Biotech Cos. Wary

Law360, New York (March 9, 2015, 2:16 PM EDT) -- A hedge fund's attempt to invalidate Acorda Therapeutics Inc. drug patents under the America Invents Act as an investment strategy to lower the company's stock price should have biotechnology companies on alert for similar challenges, attorneys say, although the tactic makes financial sense only in rare cases.

An organization affiliated with Hayman Capital Management LP filed inter partes review petitions on Feb. 10 and Feb. 27 challenging the validity of two patents on Acorda's multiple sclerosis drug Ampyra, which accounts for 93 percent of the company's revenue.

The fund has reportedly taken a short position on Acorda's stock and stands to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!