news 1 week ago

Phillip Frost Issues Statement Regarding SEC Lawsuit

The Associated Press

MIAMI--(BUSINESS WIRE)--Sep 14, 2018--Dr. Phillip Frost today issued the following statement regarding the lawsuit filed by the Securities and Exchange Commission on September 7, 2018:

“I was stunned by the SEC’s lawsuit and deny the allegations it contains against me. It was particularly disturbing that the SEC departed from its own longstanding practice of providing advance notice and a meaningful opportunity to address their questions in advance of filing an action.

“The allegations against me are belied by common sense, my history of supporting promising scientific technology, and the facts. I invested in two of the entities identified in the complaint. These investments were made because I understood the entities presented promising medical developments and a real opportunity to deliver value for shareholders. I remain a significant long-term shareholder in both companies.

“Nothing is more important to me than my integrity and I am deeply proud of the role I have played over many decades in developing medicines and diagnostic tools that have improved many lives. I intend to fight the charges that have been brought against me and will fight to clear my name.”

View source version on businesswire.com:https://www.businesswire.com/news/home/20180914005562/en/

CONTACT: Sard Verbinnen & Co

Jamie Tully / Ellen Davis / Devin Broda, 212-687-8080

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Dr. Phillip Frost

Copyright Business Wire 2018.

PUB: 09/14/2018 04:17 PM/DISC: 09/14/2018 04:17 PM

http://www.businesswire.com/news/home/20180914005562/en

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