"Now YA Global's involvement in another deal has been highlighted. A shareholder in the US technology firm NeoMedia recently launched legal action against YA Global for allegedly engaging in a 'manipulative scheme' over an original $10 million convertible note facility provided in 2002. It is claimed YA Global failed to make proper disclosures and that it engaged in 'short-swing trading' of the stock before converting its debt into shares.
YA Global has fared quite well from its 'investment' in NeoMedia, having purchased over $50 million in NeoMedia securities and made untold millions in profits, said the investor, William Klawoon, in a filing to a New Jersey court last month."
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