securities lawsuits against pharmaceutical companies

kalobiosI am sure that many of you, like me, felt a satisfying wave of schadenfreude when you heard the news last week that biotech bad boy Martin Shkreli had been arrested on securities fraud charges. Shkreli became the poster-child for drug company price-gouging after his company, Turing Pharmaceuticals, increased the price of Daraprim, a life-saving drug, by over 5,000 percent. However, his arrest is unrelated to his activities at Turing. Instead, his arrest relates to his previous activities as a hedge fund portfolio manager and involves a different biotech company, Retrophin Pharmaceuticals, which Shkreli founded and took public, and at which Shkreli had served as CEO until September 2014.
Continue Reading Biotech Bad Boy Shkreli Hit With Securities Class Action Lawsuit