"disgorgement" in this case would relate to ...
... proving in a court of law that YAGI had done something illegal while making money converting preferred stock and selling it, or while doing anything else pertaining to NeoMedia, and having to forfeit (disgorge) any ill-gotten gains. The company could end up with some of that money, or shareholders, or the government, someone else probably knows something about those options.
While it's possible YAGI has made a mistake somewhere, one might reasonably assume they know what they're doing and have covered themselves 18 different ways. I suppose nobody, not even an experienced hedge fund, is perfect or impervious to the siren call of greed.
jonesie
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