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Securities and Exchange Commission v. Stiefel Laboratories Inc. et al
Case Number:
1:11-cv-24438
Court:
Nature of Suit:
Judge:
Firms
Companies
Government Agencies
Sectors & Industries:
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April 23, 2020
Fla. Lab, Ex-CEO Agree To Pay $37M To End SEC Fraud Suit
Stiefel Laboratories Inc. and its former chief executive have agreed to pay the U.S. Securities and Exchange Commission $37 million to end claims they defrauded investors and employees by rebuying undervalued stock before a $2.9 billion sale to GlaxoSmithKline PLC, according to documents filed Thursday in a Florida federal court.
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July 08, 2016
GSK Unit Pushes Back On SEC In Stock Fraud Suit
Stiefel Laboratories Inc. pushed back Friday in Florida federal court against the U.S. Securities and Exchange Commission's bid for a win on claims that the pharmaceutical company and its ex-CEO defrauded investors and employees by rebuying undervalued stock before a $2.9 billion sale to GlaxoSmithKline PLC, arguing there are issues of fact a jury should hear.
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December 11, 2012
SEC Can't Prove Stock Buyback Scheme, GSK Unit Says
The U.S. Securities and Exchange Commission hasn't identified evidence that Stiefel Laboratories Inc. and its former CEO defrauded investors and employees by repurchasing stock at dramatically undervalued prices before a $2.9 billion sale to GlaxoSmithKline PLC in 2009, Stiefel told a Florida federal judge Monday.
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December 12, 2011
SEC Targets Glaxo Unit Over Underpriced Stock Buybacks
The U.S. Securities and Exchange Commission on Monday sued Stiefel Laboratories Inc. and its former CEO, alleging they defrauded investors and employees by repurchasing stock at dramatically undervalued prices before a $3.6 billion sale to GlaxoSmithKline PLC.