Drugmaker Fine Shows SEC's Renewed Disclosure Focus
Law360 (August 30, 2019, 1:18 PM EDT) -- On Aug. 20, pharmaceutical company TherapeuticsMD Inc. settled charges by the U.S. Securities and Exchange Commission that the company had selectively disclosed market-moving information to sell-side analysts regarding potential approval of one of its drugs by the U.S. Food and Drug Administration. In the Matter of TherapeuticsMD is the first stand-alone Regulation Fair Disclosure action brought by the SEC in over five years.
The action underscores the importance of public companies maintaining policies and procedures for handling material nonpublic information in a manner compliant with Regulation FD. Life sciences companies are advised to develop standard operating procedures based upon best practices...
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