April 28, 2020
A Second Circuit panel appeared unmoved Tuesday by an incarcerated Massachusetts biotech executive's contention that his jury was improperly deprived of legal instructions on the term "capitalization," with the judges saying the term appears factual, not legal, in nature.
December 06, 2019
A Massachusetts federal judge has awarded the U.S. Securities and Exchange Commission an early victory in its suit against two biotech companies and former CEO Patrick Muraca over his misappropriation of investor funds, ruling that Muraca's conviction in a parallel criminal case supports the SEC's civil claims.
July 23, 2019
A Massachusetts cancer diagnostics company whose founder was sentenced to 27 months in prison for squandering most of the $1.2 million he raised from investors should be held liable for his actions, the U.S. Securities and Exchange Commission argued Tuesday in Boston federal court.
July 30, 2018
A former biotech CEO from Massachusetts who once ran a $48 million diagnostics company went before a Manhattan federal jury Monday to try to sink charges of stealing from investors, arguing his efforts in the fight against cancer were real but he was a "total moron" for commingling funds.
April 27, 2018
A Massachusetts federal judge declined Friday to unfreeze the assets of a cancer-diagnostics company and ordered the U.S. Securities and Exchange Commission to continue monitoring the business' transactions while its founder faces criminal charges that he lied to investors and used their money to pay his own bills and support his fiancee's restaurant.
August 01, 2017
The owner of a medical company and a pharmaceutical company solicited more than $1 million from investors to expand those businesses but instead used the money for personal expenses and to fund his fiancée's restaurant, New York federal prosecutors charged Monday.