Ex-Biotech Exec Agrees To Penalty For Deceiving Auditors

Law360 (October 17, 2019, 11:27 PM EDT) -- The U.S. Securities and Exchange Commission announced Thursday that the former business chief of Osiris Therapeutics Inc. has agreed to pay $40,000 to exit a case accusing him and other executives of duping an auditor into allowing the biotech company to book fake revenue.

Bobby Dwayne Montgomery agreed to the entrance of a judgment in Maryland federal court on Oct. 8 that ordered him to pay the financial penalty and also bars him from committing future securities violations, the SEC announced Thursday.

"Our client is happy to have resolved the case on a no-admit, no-deny basis, and is looking forward to...

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