FDA Tip Sparks SEC Biopure Investigation

Law360, New York (October 10, 2005, 12:00 AM EDT) -- A Securities and Exchange Commission lawsuit filed against medical technology company Biopure was prompted by a tip from the Food and Drug Administration, according to SEC officials.

The SEC said it initiated the investigation into Biopure after receiving a communication from the FDA regarding potentially misleading and erroneous statements made by Biopure to its investors.

The SEC filed a lawsuit against Biopure in September alleging that “in 2003, Biopure Corporation and its chief executive officer, head of regulatory affairs and general counsel engaged in a fraudulent...
To view the full article, register now.

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.