Replies to post #861 on YM BioSciences Inc. (YMI)

[rarefind]

Why ymi has been seeing large block selling. Well heres the answer ...

.On Thursday, U.S. hedge fund Diamondback Capital Management LLC told investors Thursday that it would close and return money to investors. The company, which at its peak managed $6 billion in assets, , had been making money this year but faced redemption requests for Dec. 31 equal to 26% of its remaining assets and would shrink to $1.45 billion. It also agreed in 2011 to pay the government more than $9 million to resolve insider-trading allegations, while entering into a nonprosecution agreement with the Justice Department.

Diamond had 2.2 million shares of ymi as of the last filing and they must liquidate now as the fund is closing....rareF