Jury finds former Aveo CFO David Johnston liable for scheme to mislead investors
SEC attorney Eric Forni likened ex-Aveo CFO David Johnston to a crooked used car salesman in making the case that he had schemed to defraud the biotech’s investors when he told them that the FDA had plenty of positive things to say about tivo.
Yes, Johnston — now the CFO at publicly traded ImmunoGen — noted that the FDA had some concerns. But that was like a salesman telling a car-buying customer that the engine was making a few noises, while leaving out the part about the brand new engine that was needed, according to a story in Law360.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
