Biotech CEO, two associates accused of securities fraud

Biotech CEO, two associates accused of securities fraud


The chief executive of a biotech company that said it was developing a non-opiate pain treatment was arrested along with two associates on Tuesday on U.S. charges that he misled investors and participated in a stock manipulation scheme. Federal prosecutors in Boston said PixarBio Corp. CEO Frank Reynolds solicited investors with false and misleading claims that he was a successful inventor with a product that would end "thousands of years of morphine and opioid addiction."



from Biotech News