Arc­turus' ex-CEO tri­umphs, oust­ing board that oust­ed him

The cur­tain is falling on the epic dra­ma be­tween lit­tle San Diego biotech Arc­turus and its for­mer CEO Joe Payne. Af­ter months of har­poon­ing each oth­er with law­suits in a war for con­trol, Payne has pre­vailed.

At least that’s what we’re read­ing from a state­ment Arc­turus pub­lished to­day, which an­nounced that four board mem­bers are re­sign­ing: Stu­art Collinson, Craig Wil­lett, Daniel Gef­fken, and David Shapiro. This was the ac­tion Payne has been root­ing for, as these four di­rec­tors, he al­leged, con­spired against him — re­sult­ing in the fir­ing of Payne this Feb­ru­ary. In par­tic­u­lar, Payne said these guys en­gaged in ac­tiv­i­ty that vi­o­lat­ed the rules es­tab­lished by the Is­raeli laws that gov­ern its op­er­a­tions.

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