Saturday, 25 October 2014
Last updated 1 day ago
Aug 9 2013 | 10:28am ET
Hedge fund Yorkville Advisors has fended off a lawsuit accusing it of scheming against a pharmaceutical company.
A federal judge in New Jersey dismissed the complaint, filed by investors in Cobalis Corp. U.S. District Judge Dennis Cavanaugh ruled that the matter had already been litigated to no avail and that the investor suit was simply "another bite at the apple."
"Cobalis and its privies, plaintiffs, have had multiple opportunities to litigate this very issue, with two federal judges determining that they have no claim upon which relief can be granted," Cavanaugh wrote. "It is improper and a waste of judicial resources to continue to entertain this issue, even when it is refashioned as a claim by the privies of the corporation and not the corporation itself."
Cobalis, which makes an over-the-counter dietary supplement designed to treat allergies, accused Yorkville of shorting Cobalis' stock to drive its drive down while also entering into a private investment in public equities transaction in which the Radovich family, which runs Cobalis, pledged stock as collateral.
"We are pleased with Judge Cavanaugh's opinion dismissing yet another baseless litigation brought by the Radovich family and its various entities," Yorkville lawyer Nikolas Komyati told Law360.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.