October 01, 2015
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.
November 14, 2014
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.
December 18, 2012
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.