Former Top Lawyer to Pay $3M In Fraud Settlement

Law360, New York (January 13, 2006, 12:00 AM EST) -- The former top lawyer of Biogen Idec has agreed to pay $3 million to the Securities and Exchange Commission to settle charges stemming from his sale last year of company shares just hours after learning that Biogen’s multiple sclerosis drug Tysabri may be related to a fatal brain cancer.

Thomas J. Bucknum, who resigned last spring amid allegations that he had dumped $1.9 million worth of stock to unsuspecting shareholders, refused to admit or deny any wrongdoing.

"I believe it was prudent to end this episode...
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