Immunosyn CEO Hid FDA Hold From Investors, Jury Told

Law360, Chicago (April 19, 2016, 3:32 PM EDT) -- The CEO of publicly traded biopharmaceutical company Immunosyn Corp. hid regulators' concerns about the company's only drug from investors in an effort to keep its stock price high, the U.S. Securities and Exchange Commission told a jury in Illinois federal court Tuesday.

Stephen Ferrone signed off on multiple Immunosyn disclosures that hid from investors the fact the U.S. Food and Drug Administration denied the company's application to proceed to the human clinical trials portion of the drug approval process, SEC attorneys told the jury as Ferrone's civil trial began.

In the meantime, investors traded Immunosyn's stock without knowing the progress of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!