SEC Hits Biotech Investor With Market Manipulation Suit

Law360, New York (May 10, 2012, 7:00 PM EDT) -- Biotechnology financier David Blech, who pled guilty Wednesday to securities fraud for manipulating the stock prices of two biotech companies, will now have to face off with the U.S. Securities and Exchange Commission over the same scheme.

The suit, which also names Blech's wife, Margaret Chassman, said the fraud “involves a complex market manipulation” carried out since at least 2007 by a man who was previously convicted of securities fraud and is barred for life from associating with a broker-dealer.

According to the SEC's suit, using...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commisison v. Blech et al


Case Number

1:12-cv-03703

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Alison J. Nathan

Date Filed

May 9, 2012

Companies

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.