Ceragenix Attacks Ousted Exec's $10M SOX Complaint

Law360, New York (May 4, 2012, 1:44 PM EDT) -- Bankrupt medical device company Ceragenix Pharmaceuticals Inc. asked a Colorado federal judge Wednesday to toss an ousted executive’s $10 million claim for back pay he says he is owed after the company allegedly retaliated against him for reporting insider trading.

In a pair of related motions to dismiss, the company says former senior vice president Carl Genberg failed to follow proper procedures before filing his complaint and is not entitled to whistleblower protection under the Sarbanes-Oxley and Dodd-Frank acts.

Specifically, Sarbanes-Oxley claims against Ceragenix’s board members,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Genberg v. Porter et al.


Case Number

1:11-cv-02434

Court

Colorado

Nature of Suit

Securities/Commodities

Judge

Wiley Y. Daniel

Date Filed

September 15, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.