That first paper describes a scheme whereby investors bought convertible warrants, used naked short selling to drive the stock price down, then covered by exercising their warrants. And apparently in many cases, as documented by the paper, this resulted in a delisting or even bankruptcy of the targeted firms.
What kind of short-selling? For naked short selling I quickly found evidence: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=273488 That's the predecessor of a paper cited from 2003 SEC testimony of Robert J. Shapiro published at https://www.sec.gov/rules/proposed/s72303/rshapiro122403.htm..., which in turn may have been a related source for the Shapiro citation in a 2008 Time magazine article at https://web.archive.org/web/20080424032340/http://www.time.c..., which I found via the Wikipedia article on naked short selling at https://en.wikipedia.org/wiki/Naked_short_selling#Claimed_ef...
That first paper describes a scheme whereby investors bought convertible warrants, used naked short selling to drive the stock price down, then covered by exercising their warrants. And apparently in many cases, as documented by the paper, this resulted in a delisting or even bankruptcy of the targeted firms.