Biopure Escapes Damages In SEC Suit, GC Doesn’t

Law360, New York (September 13, 2006, 12:00 AM EDT) -- Biopure Corp. won’t have to pay a cent to the Securities and Exchange Commission to settle allegations of issuing false and misleading public statements, though its general counsel wasn’t as lucky.

Under the settlement agreement, the company agreed to an injunction against future violations of federal securities laws for the statements it made in an effort to obtain Food and Drug Administration approval for its synthetic blood product Hemopure, the SEC said on Tuesday.

Biopure also agreed to retain an independent consultant to review the company’s...
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