November 21, 2018 / 10:47 PM / 4 months ago

Former Aveo Pharmaceuticals CFO misled investors - jury

A federal jury in Boston on Tuesday found Aveo Pharmaceuticals Inc’s former chief financial officer liable for defrauding investors by hiding bad news about the biotech’s efforts to obtain regulatory approval for a kidney cancer drug. Following a two-week trial, jurors found in favor of the U.S. Securities and Exchange Commission, which had accused David Johnston of failing to disclose that the U.S. Food and Drug Administration had recommended the biotech conduct another clinical trial for the drug.

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