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Ceragenix Wins Dismissal Of Ex-Exec's SOX Complaint

Law360, New York (August 12, 2016, 4:50 PM EDT) -- A former executive for a bankrupt medical device company lost a $10 million defamation and retaliation suit against his former employer Thursday when a Colorado federal judge found that his actions weren’t protected under the Sarbanes-Oxley Act and that he wasn’t defamed.

U.S. District Judge Wiley Y. Daniel granted ex-Ceragenix Pharmaceuticals CEO Steven S. Porter’s motion for summary judgment against Carl Genberg, the company’s one-time vice president of research and development, who was fired for allegedly providing important private company information to outsiders. Genberg had claimed that Sarbanes-Oxley protected his conduct and that Porter defamed him after his termination by calling...

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Subscribers Only

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Court

Colorado

Nature of Suit

Securities, Commodities, Exchange

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Date Filed

September 15, 2011

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