Cayman hedge fund sues penny stock over $1.4 m ‘unpaid’ loan to publicly-listed firm

A Cayman Islands-based hedge fund is suing a United States-based penny stock for $1.4 million.Vicis Capital Master Fund, a Cayman Islands trust, filed a complaint against Knockout Holdings Inc., a Delaware corporation that develops and markets celebrity-branded cleaning products, at the U. S. District Court for the Northern District of Illinois on July 2, 2007.