{"id":71441,"date":"2019-10-21T00:07:06","date_gmt":"2019-10-21T04:07:06","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=71441"},"modified":"2019-10-23T01:53:07","modified_gmt":"2019-10-23T05:53:07","slug":"sec-obtains-final-judgment-against-former-executive-charged-with-lying-to-auditors","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2019\/sec-obtains-final-judgment-against-former-executive-charged-with-lying-to-auditors.html","title":{"rendered":"SEC Obtains Final Judgment Against Former Executive Charged with Lying to Auditors"},"content":{"rendered":"<p>The U.S. District Court for the District of Maryland has entered a final judgment against Bobby Dwayne Montgomery, a former executive of biotech company Osiris Therapeutics, Inc. for his role in Osiris&#8217;s fraudulent conduct.<\/p>\n<p>The SEC&#8217;s action, filed November 2, 2017, charged Osiris with routinely overstating company performance and issuing fraudulent financial statements for a period of nearly two years, and charged several of its former officers for related misconduct. The SEC alleged that Montgomery, Osiris&#8217;s former chief business officer, caused Osiris to book fictitious revenue and provided false information to Osiris&#8217;s auditors.<\/p>\n<p>Montgomery consented to a judgment enjoining him from future violations of the provisions of the federal securities laws that prohibit falsifying books and records and lying to auditors, and ordering him to pay a civil penalty of $40,000.<\/p>\n<p>Osiris previously settled the SEC&#8217;s charges and paid a $1.5 million penalty. One of Osiris&#8217;s former chief financial officers, Gregory I. Law, was dismissed from the case in September 2019. The SEC&#8217;s litigation against Osiris&#8217;s former chief executive officer, Lode B. Debrabandere, and the other former chief financial officer, Philip R. Jacoby Jr., is ongoing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. District Court for the District of Maryland has entered a final judgment against Bobby Dwayne Montgomery, a former executive of biotech company Osiris Therapeutics, Inc. for his role in Osiris&#8217;s fraudulent conduct. The SEC&#8217;s action, filed November 2, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-71441","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=71441"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71441\/revisions"}],"predecessor-version":[{"id":71442,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71441\/revisions\/71442"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=71441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=71441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=71441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}