- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-09-27T18:00:00
A former Alzheimer’s researcher manipulated the results of a Cassava Sciences drug, with the pharmaceutical company and its former chief executive reaching a $40 million settlement with the Securities and Exchange Commission (SEC) over allegedly misleading the public.
Prior to 2020, researcher Hoau-Yan Wang, associate medical professor at City University of New York Medical School, embarked on a purported blind clinical trial of the experimental Alzheimer’s drug Simufilam.
Wang, who had a financial stake in the outcome of the drug trial, found out which patients had taken the drug in a third of cases and skewed the data to make the drug look dramatically more effective, the SEC alleged in it order against Wang.
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Generic drug giant Teva Pharmaceuticals has agreed to pay $450 million to settle two cases brought by the Department of Justice (DOJ), including one alleging that co-pays it made on behalf of Medicare patients constituted illegal kickbacks, and a second action for alleged generic drug price fixing.
A Department of Justice criminal investigation into illegal short selling is just the latest indication these schemes demand greater scrutiny that chief compliance officers and in-house counsel can no longer afford to ignore.
Austrian technology company S&T AG has ordered a forensic audit of its corporate structure and several recent acquisitions in response to allegations made by short seller Viceroy Research.
The Securities and Exchange Commission ordered the owner of Rimar Capital and a board member of its holding company to pay nearly $524,000 in penalties for defrauding investors with false and misleading statements about its use of artificial intelligence.
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Electric vehicle maker Fisker is under investigation by the Securities and Exchange Commission over potential violations of federal securities laws related to the preservation of records and documents involving its Chapter 11 bankruptcy filing.
