Defendant Name:
AVEO Pharmaceuticals, Inc.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
05358810
Document Reference:
comp-pr2016-59
Document Details
Legal Case Name
SEC v. AVEO Pharmaceuticals, Inc., Tuan Ha-Ngoc, David Johnston, and William Slichenmyer
Document Name
Complaint
Document Date
29-Mar-2016
Document Format
Civil Proceeding
Case Number
16-cv-10607
Federal District Court
Massachusetts, District of Massachusetts
Allegation Type
Issuer Reporting and Disclosure
Document Summary
In the Complaint, the SEC alleged that: "In 2012 and 2013, AVEO Pharmaceuticals, Inc. ('AVEO'), its chief executive officer, Tuan Ha-Ngoc ('Ha-Ngoc'), chief financial officer, David Johnston ('Johnston'), and chief medical officer, William Slichenmyer ('Slichenmyer') (collectively, 'defendants') made materially misleading statements to investors about communications with staff of the Food and Drug Administration ('FDA') about AVEO's flagship drug candidate, tivozanib ('Tivo'). In these statements, the defendants noted that FDA staff had expressed concerns about survival rates for patients receiving Tivo, and told investors that AVEO would be addressing those concerns by doing 'additional analyses.' In so doing, the defendants concealed the critical fact that FDA staff had recommended that AVEO conduct an additional clinical trial, an expensive and time-consuming proposition."
Other Defendants in Action:
