The SEC sued a Kentucky pharmaceutical company and two former executives for allegedly misleading investors about a cancer drug’s FDA approval status while raising $4.1 million.
CBA Pharma Inc. and the former executives violated federal securities laws by making false statements to investors from April 2023 to February 2024, when the FBI executed a search warrant on the company’s offices, according to the Securities and Exchange Commission’s complaint filed Thursday in the US District Court for the Eastern District of Kentucky.
CBA Pharma told investors its drug CBT-1 was in the final stages of Food and Drug Administration approval, when ...
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