November 20, 2017 / 11:00 PM / a year ago

Ex-Aveo Pharmaceuticals CEO settles SEC fraud claims

Aveo Pharmaceuticals Inc’s former chief executive has agreed to settle a lawsuit by the Securities and Exchange Commission claiming he misled investors about the biotech company’s efforts to obtain regulatory approval for a drug to treat kidney cancer.

Tuan Ha-Ngoc, who served as the company’s CEO from 2002 to 2015, agreed to pay an $80,000 penalty and resolve the lawsuit without admitting or denying the allegations, according to papers filed on Monday in Boston federal court.

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