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Univ. of Toledo College of Law

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Wednesday, February 21, 2007

Former Biopure CEO Settles Fraud Charges

The SEC announced that a final judgment  by  consent  was entered by the U.S. District Court of the  District  of  Massachusetts against Thomas Moore, the former chief executive  officer  of  Biopure Corporation, in a previously-filed action alleging  misleading  public statements about the company's efforts to obtain FDA approval for  its primary product,  Hemopure,  a  synthetic  blood  product.  The  final judgment permanently enjoins Moore from violating antifraud provisions of the federal securities laws and orders him to  pay  a  $120,000  civil penalty.

For further information, see Litigation Release No. 19825  (Sept.  12, 2006) (SEC Settles Civil Injunctive Action Against Biopure Corporation and Its General Counsel), Litigation  Release  No.  19651  (April  11, 2006) (SEC Settles  with  Former  Biopure  Executive)  and  Litigation Release No. 19376 (Sept. 14, 2005) (Biopure and others charged by  the Commission). [SEC v. Biopure Corporation, et al., Civil Action No. 05-11853-PBS (D. Mass.)] (LR-20010)

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