Biopharmas Deny Wrongdoing as SEC Files Charges in $27M Stock "Schemes"

Two biopharmas today denied allegations of wrongdoing from the U.S. Securities and Exchange Commission (SEC), which has charged current and former principals of the companies among 10 individuals with participating in transactions that generated $27 million from unlawful stock sales to smaller investors whose shares became virtually worthless.The SEC on Friday charged the 10 people and their associated entities for their participation in the stock sales, which the agency said in its court compla