Investor Hits Advanced Cell With $12M Stock Fraud Suit

Law360, New York (August 24, 2011, 1:21 PM EDT) -- An investor who had an antidilution agreement from a previous legal settlement with Advanced Cell Technology Inc. sued the company Tuesday in Massachusetts for $12.4 million for allegedly misleading him about a stock offering and causing him to buy shares at an inflated price.

Gary D. Aronson, a Nevada man who invests in startup biotechnology companies, launched the suit in federal court against ACT and Wilmington Trust NA, the special administrator of the estate of former ACT CEO William M. Caldwell IV, who died in December....
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