November 6, 2018 / 10:09 PM / 3 months ago

SEC accuses ex-Aveo Pharmaceuticals CFO of fraud as trial begins

A lawyer for the Securities and Exchange Commission on Tuesday told jurors in Boston that Aveo Pharmaceuticals Inc’s former chief financial officer misled investors by hiding bad news about the biotech’s efforts to obtain regulatory approval for a kidney cancer drug.

At the start of a trial in federal court, SEC attorney Susan Cooke Anderson said Aveo under David Johnston’s watch failed to fully disclose to what extent the Food and Drug Administration had expressed concerns about the drug.

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