February 9, 2018 / 9:53 PM / 10 months ago

Ex-Aveo Pharmaceuticals exec avoids max penalty in SEC fraud case

A federal magistrate judge on Friday ordered the former chief medical officer of Aveo Pharmaceuticals Inc to pay a $50,000 penalty, a third of what the U.S. Securities and Exchange Commission requested, to resolve civil fraud charges.

U.S. Magistrate Judge Marianne Bowler in Boston also rejected the SEC’s request to bar William Slichenmyer for five years from serving as an officer or director of a public company, noting he said he did not plan to seek such a position.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2nVpzEh

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