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2nd Circ. Affirms Hedge Fund Win In $87M Short-Swing Suit

By Katryna Perera ( August 28, 2025, 9:10 PM EDT) -- A unanimous Second Circuit panel on Thursday upheld a summary judgment win for hedge fund Armistice Capital LLC and its managing member in a derivative suit brought by a shareholder of biotechnology company Vaxart Inc., which sought disgorgement of $87 million in short-swing profits that allegedly were wrongfully obtained by the investment adviser....

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