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Whistleblower News From The Inside — August 5, 2016

Posted  August 5, 2016

By the C|C Whistleblower Lawyer Team

SEC charges cardiologist with insider trading on drug trial developments — The SEC alleges that a Connecticut doctor traded in advance of two negative news announcements by Regado Biosciences, which was pursuing a drug called REG-1 to regulate clotting in patients undergoing coronary angioplasty.  The doctor sold shares after receiving advance notice that patient enrollment in the trial was being suspended because patients had experienced severe allergic reactions and that a patient had died.  SEC

Water treatment worker settles whistleblower suit for $300K — A New Jersey water-treatment worker who said in a lawsuit that he was the target of retaliation receives $300k to settle allegations that Sparta Township’s Municipal Utilities Director ordered him to manipulate the results of excess lead and copper drinking-water tests.  Washington Times

Fifth Street discloses SEC subpoena, plans to settle shareholder fraud lawsuits — Fifth Street disclosed that it plans to settle multiple shareholder lawsuits for a collective tens of millions of dollars and also disclosed that, in March, the SEC subpoenaed the firm and asked for the preservation of documents related to the issues raised in securities class actions claims.  Forbes

Whistleblower says parliamentary committee on banking ‘just for show’ — Jeff Morris, the whistleblower who revealed a financial planning scandal at the Commonwealth Bank where customers lost millions of dollars after financial planners put their clients’ money into high-risk investments without their permission, has described the Coalition’s plan to haul the banks in front of a parliamentary committee as weak and “just for show.”   The Guardian

Auditor of the Houston Independent School District to file retaliation suit — The Chief Auditor of the school district, Richard Patton, plans to file a whistleblower retaliation suit after he claims he was retaliated against for reporting several alleged illegal acts in connection with government contracts and election fraud in regards to the district’s re-elected trustee. Houston Press