Wednesday, February 21, 2007
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)