Ceragenix Attacks Ousted Exec's $10M SOX Complaint

Law360, New York (May 4, 2012, 1:44 PM EDT) -- Bankrupt medical device company Ceragenix Pharmaceuticals Inc. asked a Colorado federal judge Wednesday to toss an ousted executive’s $10 million claim for back pay he says he is owed after the company allegedly retaliated against him for reporting insider trading.

In a pair of related motions to dismiss, the company says former senior vice president Carl Genberg failed to follow proper procedures before filing his complaint and is not entitled to whistleblower protection under the Sarbanes-Oxley and Dodd-Frank acts.

Specifically, Sarbanes-Oxley claims against Ceragenix’s board members,...
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