Hedge fund blasts Nabi management, demands sale

A hedge fund with a big stake in Nabi Biopharmaceuticals is stepping up its campaign to force a sale of the company. Third Point's Daniel Lobe, no stranger to confrontational tactics, has accused top management of burning through cash and failing to meet expectations on Wall Street. CEO Thomas McLain came in for some particularly harsh comments. "Mr. McLain has made one blunder after another, making him, in our opinion, one of the most disliked and least-respected executives in the biotechnology industry," said Loeb in a statement. Nabi endured the attack--and unsolicited advice--in silence.

- here's the report on Nabi from The Wall Street Journal (sub. req.)