Kyle Bass got slapped this week on ploy to bring down Acorda Therapeutics

    face palm

    It’s been a tough week for hedge funds. Some of the most well known have gotten slammed by the market turmoil.

    Kyle Bass stands apart. He got run over by the U.S. Patent and Trade office.

    Bass’s hedge fund Hayman Capital had challenged patents on two Acorda products. Presumably, Bass shorted the company. Not that there’s anything wrong with that.

    The PTO ruled on the challenges by The Coalition for Affordable Drugs (that’s Bass), saying they didn’t supply enough evidence, FinAlternatives reports.

    The stock jumped 11% on the news. So sad. There was so much more to short earlier this week.

    Photo: Jes