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Galena Biopharma, Inc. Message Board

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  • pepperspray62 pepperspray62 Feb 18, 2012 12:17 PM Flag

    Looks like warrant holders want CASH

    4 lawsuits?


    "In suing Galena, Iroquois has joined the ranks of other investment groups that feel burned after investing in RXi.

    In December, Hudson Bay Master Fund filed the first suit, which is seeking $1.4 million, claiming that it participated in two RXi/Galena public offerings, and that both transactions included protective terms that would allow it to sell back the warrants it had bought in the event of a fundamental transaction such as a corporate restructuring or merger/acquisition (GSN 12/22/2011)."

    Last month, a group of firms — Tenor Opportunity Master Fund, Aria Opportunity Fund, and Parsoon Opportunity Fund — jointly filed similar litigation seeking $1.5 million (GSN 1/19/2012). Also in January, Cranshire Capital Master Fund lodged its own legal complaint on the same issue, asking for $1.3 million in damages (GSN 1/26/2012).

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