September 10, 2014
Posted January 26, 2016
The SEC charged Massachusetts-based biotech company Advanced Cell Technology and its former CEO Gary H. Rabin with defrauding investors by failing to report his sales of company stock as federal securities laws require to give investors the opportunity to evaluate whether the purchases and sales by an insider could be indicative of the prospects of the company. Rabin, who left the company earlier this year, agreed to settle the SEC’s charges by paying a $175,000 penalty. ACT agreed to pay a $375,000 penalty. SEC
Tagged in: Insider Trading, Regulatory Violations, Securities Fraud,