A managing partner of a United Kingdom-based bioscience investment firm is facing a securities clawback action by an investor in the biopharmaceutical company CymaBay Therapeutics who claims his insider status prevents him from holding on to $400,000 worth of short-swing profits.

Abingworth managing partner Kurt von Emster, who is based in California, is alleged by the investor to have been an insider at CymaBay for the purpose of security law. Because of his position helping to manage Abingworth’s CymaBay investments while serving as a director and fiduciary at the company, the plaintiffs claim he is liable under the security law.