Ex-Biovail CFO Blasts SEC Over Complaint

Law360, New York (June 24, 2008, 12:00 AM EDT) -- The former chief financial officer of drugmaker Biovail Corp. has demanded that a district court toss out the U.S. Securities and Exchange Commission's action against him, arguing that the agency failed to prove the fraud allegations first lodged years ago.

On Monday, Brian Crombie filed a memorandum of law in support of his earlier motion to dismiss in the U.S. District Court for the Southern District of New York, arguing that the SEC's claims do not hold water despite the agency's having had ample time to...
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.