Hemispherx Biopharma, Inc. v. Mid-South Capital, Inc.

EBEL, Circuit Judge:

During an eight-month period, Plaintiff and Counterclaim-Defendant Hemisphere Biopharma, Inc. (“Hemisphere”) hired three different investment brokers to raise capital for it. Hemisphere hired the first two brokers at a time when it was difficult to sell Hemisphere’s stock. Months later, when market forces made Hemisphere’s stock much more attractive, Hemisphere hired a third broker, a heavy hitter in the industry, which was able very quickly to raise $31 million in capital for Hemisphere through stock sales.

All three brokers focused their capital-raising efforts on several…