NewLead +40%, gets restraining order stopping issuance of shares

|About: NewLead Holdings Ltd. (NEWL)|By:, SA News Editor

NewLead Holdings (NEWL) +40.3% premarket after announcing it was granted a temporary restraining order against Ironridge Global IV prohibiting the further issuance of common shares in payment of dividends on series A preference shares.

NEWL says Ironridge is no longer entitled to conversions of the shares and will not accept further funds from Ironridge.