The Aveo Fraud
By
Leonard Zwelling
https://www.sec.gov/litigation/complaints/2016/comp-pr2016-59.pdf
https://www.sec.gov/news/pressrelease/2016-59.html
The article from the Boston Globe and the SEC release summarize the 30-page document released by the
federal court in Massachusetts. The Securities and Exchange Commission has
filed charges against Aveo and three of its executives for fraud in not telling
investors about the request of the FDA to do a second randomized trial of its
kidney cancer drug tivozanib prior to the agency’s being able to approve the
drug.
This is the same drug whose merits were
promoted by Dr. DePinho on CNBC shortly after the clinical trial results were
known to the company. I suspect that Dr. DePinho is going to say he too was
misled about the true value of this compound. Well, pretty much like Richard
Nixon, guilty if he knew, guilty if he didn’t because this was his company.
Also like Nixon, as Jackie Mason has said, “every day he got caught and every
day someone else went to jail.” Such is the case here, as my perusal of the 30-page
document does not note Dr. DePinho named at all. How does he do it?
Wasn’t this also a company Dr. DePinho’s
wife was advising? So he knew nothing and she knew nothing and they didn’t
discuss any of this with one another. That strains credulity, doesn’t it?
Any way, read for your self if you
wish. This is another example of the ethic driving the leadership of MD
Anderson. What used to be about eradicating and fighting cancer is now about
money.
Oh, you knew that already!
