Ironridge agreed to pay $25m in cash and promissorynotes for the preference shares in March.
It started arbitration in May afterNewLead failed to honour conversions and pay dividends, prompting NewLead totry for an injunction.
The US district court said: "Ironridgehas submitted account statements for all its sales of NewLead shares, whichshow no short sales and account for all shares it has received.”
Ironridge
