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Savient Pharmaceuticals (SVNT -33%) says in an SEC filing it's been served with a creditor...

Savient Pharmaceuticals (SVNT -33%) says in an SEC filing it's been served with a creditor derivative action complaint filed by Tang Capital Partners. The complaint alleges, among other things, that the company is insolvent. Savient believes the complaints are without merit, noting however, that it will consider financial transactions that will improve its overall balance sheet.
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  • p548jd11
    , contributor
    Comments (14) | Send Message
     
    Activist bond holders - trying to get ahead in the queue when they see potential leverage. If the company's cash flow sustains through the European launch I would be a buyer.

     

    Disclosure - I am LONG with protective calls on the short side.
    2 May 2012, 02:33 PM Reply Like
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