June 20, 2014
The Third Circuit on Friday upheld the dismissal of a lawsuit by Cobalis Corp. investors that accused hedge fund YA Global Investments LP of fraudulently coaxing the pharmaceutical company into a financing deal and then executing a short sale scheme, finding the matter has already been decided in bankruptcy court.
August 06, 2013
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.