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Securities and Exchange Commission v. Spencer Pharmaceutical Inc et al
Case Number:
1:12-cv-12334
Court:
Nature of Suit:
Judge:
Firms
Companies
Government Agencies
Sectors & Industries:
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October 01, 2015
SEC Gets $7M Judgment In Pharma Pump-And-Dump Scheme
A Massachusetts federal judge on Wednesday ordered a Canadian man, his pharmaceutical company and two public relations firms to pay $7 million in disgorgement and penalties in a U.S. Securities and Exchange Commission suit over an alleged scheme to drive up the company's value with rumors of a buyout.
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November 14, 2014
Pharma Exec Can't Duck SEC's Pump-And-Dump Suit
The Canadian man behind Spencer Pharmaceutical Inc. must face charges from the U.S. Securities and Exchange Commission of spreading fictitious reports of a $245 million buyout to inflate stock prices, a Massachusetts federal judge said Friday, rejecting the man's bid to evade U.S. jurisdiction.
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December 18, 2012
Drug Co. Lied About $245M Buyout Offer, SEC Claims
The U.S. Securities and Exchange Commission hit Spencer Pharmaceutical Inc. with a suit in Massachusetts federal court Monday, accusing the drug company of a pump-and-dump scheme in which Spencer's officers spread fictitious reports of a forthcoming $245 million buyout to inflate stock prices.