here is a summary of the hedge fund that holds 77% of the notes and were listed in court documents.

QVT Financial LP is a privately owned hedge fund sponsor. The firm provides its services to pooled investment vehicles. It invests in the public equity and debt markets across the globe. The firm also invests in alternative investment markets across the globe. It invests in structured finance, private placements, high yield and distressed debt to create its portfolios. The firm employs convertible arbitrage, investment grade, and capital structure arbitrage techniques along with closed-end fund arbitrage and various relative value-driven equity strategies such as risk arbitrage, fundamental relative value, statistical trades, and other special situations techniques to make its investments. QVT Financial is based in New York, New York with an additional office in London, United Kingdom.

It appears that this a part of their investment strategy. Can't really blame them for doing what they do.