'King Of Biotech' Settles Stock Manipulation Case For $1M

Law360, New York (August 23, 2013, 2:26 PM EDT) -- Biotech financier David A. Blech will pay $1.03 million in disgorgement for his role in a scheme to manipulate stock prices, according to a settlement with federal regulators approved by a New York federal judge Thursday.

Blech was convicted last year after admitting that he used a manipulative pattern of sales to prop up the price of shares in Pluristem Therapeutics Inc. and Intellect Neurosciences Inc. from 2005 to 2008 as he sought to sell off his stakes in the companies to pay debts.

Regulators said...
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