A bid by a Colorado pharmaceutical company and its top executives to overturn an asset freeze sought by the Securities and Exchange Commission over alleged fraud drew skepticism from a federal appeals court.
A panel of judges in the US Court of Appeals for the Tenth Circuit questioned lawyers representing Reven Pharmaceuticals and the regulator during oral arguments Wednesday about a lower court’s 2023 injunction, entered after the agency claimed Reven had misappropriated over $8.8 million of investor money for its founders’ personal use.
Reven and founders Brian Denomme, Peter Lange, and Michael Volk have argued that “insurgent” investors ...
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