JGB (CAYMAN) NEWTON, LTD. v. SELLAS LIFE SCIENCES GROUP INC.

No. 18cv3095(DLC).

JGB (CAYMAN) NEWTON, LTD., Plaintiff, v. SELLAS LIFE SCIENCES GROUP INC., DR. ANGELOS M. STERGIOU, MD, ScD H.C., ALEKSEY N. KRYLOV, JANE WASMAN, STEPHEN F. GHIGLIERI, DR. DAVID A SCHEINBERG, MD, PhD, ROBERT L. VAN NOSTRAND, and JOHN VARIAN, Defendants, SELLAS LIFE SCIENCES GROUP, INC., Counterclaim Plaintiff, v. JGB (CAYMAN) NEWTON, LTD., JGB COLLATERAL, LLC, JGB CAPITAL OFFSHORE LTD., JGB PARTNERS L.P., and JGB CAPITAL L.P., Counterclaim Defendants.

United States District Court, S.D. New York.

October 23, 2018.

Editors Note
Applicable Law: 28 U.S.C. § 1332
Cause: 28 U.S.C. § 1332 Diversity Action
Nature of Suit: 190 Contract: Other
Source: PACER


Attorney(s) appearing for the Case

JGB (Cayman) Newton, Ltd., Plaintiff, represented by Douglas Kent Yatter , Latham & Watkins LLP, Austin Charles Murnane , Latham & Watkins LLP, Virginia Foster Tent , Latham & Watkins,LLP & Christopher J. Clark , Latham & Watkins LLP.

Sellas Life Sciences Group Inc., Defendant, represented by Jay B. Kasner , Skadden, Arps, Slate, Meagher & Flom LLP, Christopher P. Malloy , Skadden, Arps, Slate, Meagher & Flom LLP, David C. Wrobel , Wrobel Markham LLP, Jeremy A. Berman , Skadden, Arps, Slate, Meagher & Flom LLP, Noelle M. Reed , Skadden, Arps, Slate, Meagher & Flomm LLP & Scott D. Musoff , Skadden, Arps, Slate, Meagher & Flom LLP.

Dr. Angelos M. Stergiou, MD, ScD H.C., Aleskey N. Krylov, Jane Wasman, Stephen F. Ghiglieri, Dr. David A. Scheinberg, MD, PhD, Robert L. Van Nostrand & John Varian, Defendants, represented by Jay B. Kasner , Skadden, Arps, Slate, Meagher & Flom LLP, Christopher P. Malloy , Skadden, Arps, Slate, Meagher & Flom LLP, Jeremy A. Berman , Skadden, Arps, Slate, Meagher & Flom LLP, Noelle M. Reed , Skadden, Arps, Slate, Meagher & Flomm LLP & Scott D. Musoff , Skadden, Arps, Slate, Meagher & Flom LLP.

Sellas Life Sciences Group Inc., Counter Claimant, represented by Jay B. Kasner , Skadden, Arps, Slate, Meagher & Flom LLP, Jeremy A. Berman , Skadden, Arps, Slate, Meagher & Flom LLP, Noelle M. Reed , Skadden, Arps, Slate, Meagher & Flomm LLP & Scott D. Musoff , Skadden, Arps, Slate, Meagher & Flom LLP.

JGB Collateral, LLC, JGB Capital Offshore Ltd., JGB Partners L.P., JGB Capital L.P. & JGB (Cayman) Newton, Ltd., Counter Defendants, represented by Douglas Kent Yatter , Latham & Watkins LLP, Austin Charles Murnane , Latham & Watkins LLP, Christopher J. Clark , Latham & Watkins LLP & Virginia Foster Tent , Latham & Watkins,LLP.


OPINION AND ORDER

This litigation arises out of a convertible debenture agreement between JGB (Cayman) Newton, Ltd. ("JGB") and Sellas Life Sciences Group, Inc. ("Sellas").1 In 2016, JGB invested $24 million in Sellas's predecessor in exchange for such a convertible debenture. Over...

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