February 14, 2019 / 1:29 AM / 6 months ago

Ex-Aveo CFO argues against officer ban after SEC fraud verdict

Lawyers for Aveo Pharmaceuticals Inc’s former chief financial officer are fighting the Securities and Exchange Commission’s request to ban him from ever serving as a corporate officer again after a jury found he defrauded investors.

In a brief filed Tuesday in Boston federal court, David Johnston’s lawyers argued the jury’s finding that he misled investors by hiding bad news about the biotech’s efforts to obtain approval for tivozanib, a kidney cancer drug, did not support a lifetime ban or a “draconian” financial penalty.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2IdDyD3

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