March 25, 2019 / 8:10 PM / 6 months ago

Ex-Aveo CFO gets two-year officer bar for misleading investors

A federal judge on Monday barred Aveo Pharmaceuticals Inc’s ex-chief financial officer from serving as a corporate officer for two years after a jury found he misled investors about the prospects of regulatory approval for its main drug under development.

But U.S. District Judge Nathaniel Gorton in Boston declined the U.S. Securities and Exchange Commission’s request that he impose a lifetime ban on David Johnston. Gorton also ordered he pay more than $127,000 in penalties and forfeited profits.

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