Sorrento Therapeutics Inc. shareholders sued the company’s CEO, its bankruptcy counsel Jackson Walker LLP, and its restructuring professionals, accusing them of fabricating a bogus connection to Texas to file its bankruptcy case there.
Thirteen Sorrento equity holders are accusing them of filing a “sham” bankruptcy in February 2023 in Houston, which allowed the corporate assets to be seized at a deep discount, according to a complaint filed April 3 in the US District Court for the Southern District of California.
Sorrento, a cancer and Covid-19 drug developer, filed for Chapter 11 after being targeted by short sellers. It was approved ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.