Clovis writes a $20 million check payable to the SEC, hoping to rid itself of the lingering roci probe
Clovis Oncology $CLVS wants to put the SEC’s nagging questions about the way it handled its controversial roci data to bed. And they’re willing to pay $20 million to make that headache go away.
In their Q2 report Clovis revealed they had reached an agreement to settle the SEC investigation in principle for $20 million, provided it’s acceptable by all parties.
The housekeeping item appears about 4 months after the biotech revealed that the SEC was prepping civil charges against “current and former” execs for the roci debacle. There was no detail provided on who that may be, but Clovis CEO Patrick Mahaffy has been in charge there throughout the controversy — pulling back the curtain only occasionally to reveal an SEC as well as DoJ probe of the affair.
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