Article: He promised to turn dirt into gold. He got millions of dollars — and prison time

Article - Media, Publications

He promised to turn dirt into gold. He got millions of dollars — and prison time

Amanda Jackson, CNN, 26 April 2021

(CNN) — A Utah man promised investors his business could turn dirt into gold and swindled millions of dollars from them over several years, according to federal officials. Now, he has been sentenced to prison for his role in an $8 million telemarketing fraud scheme.

Marc Tager, 55, is the latest defendant to be sentenced in the scam that started in 2014, according to the Department of Justice. On April 14, he was sentenced to 43 months in federal prison for conspiracy to commit wire and mail fraud, money laundering and possession of a firearm by a convicted felon. Continue reading “Article: He promised to turn dirt into gold. He got millions of dollars — and prison time”

Article: ‘Black Edge’ Recounts The Biggest Insider-Trading Scandal In History

Article - Media, Publications

‘Black Edge’ Recounts The Biggest Insider-Trading Scandal In History

Fresh Air, 07 February 2017

Sheelah Kolhatkar discusses the investigation of billionaire hedge-fund trader Steven A. Cohen. She says the ways Wall Street elites accumulate wealth often negatively affect the rest of the country. Continue reading “Article: ‘Black Edge’ Recounts The Biggest Insider-Trading Scandal In History”

Article: Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul Averback by Law Offices Bernard M. Gross, P.C. — NYMX

Article - Media, Publications

Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul Averback by Law Offices Bernard M. Gross, P.C. — NYMX

GLOBE NEWSWIRE, 25 November 2014

The lawsuit filed against the Company and Paul Averback, the president, director and chairman of the Company, alleges violations of the federal securities laws based on their failure to disclose material information affecting the Phase 3 clinical trials for NYMOX’s proprietary drug NX-1207 for the treatment of benign prostatic hyperplasia (BPH). NYMOX is engaged in the research and development of therapeutics and diagnostics, with an emphasis on the products for the unmet needs of the aging population. NX-1207 showed positive results for the treatment of BPH in Phase 1 and Phase 2 clinical trials in the U.S. The Company regularly provided positive updates on the Phase 3 clinical trials. However, in a surprise to the market, and contrary to the positive statement concerning the NX02-0017 and NX02-0018 trials, defendants disclosed on November 2, 2014 that the Company’s two Phase 3 U.S. studies of NX-1207 had to be halted because the drug failed to meets its primary endpoints for efficacy. On November 3, 2014, defendants held a conference call with analysts to explain the failure and on that conference call disclosed to the market for the first time, among other things, the difficulties they faced in enrolling men for the trials and the subjective nature of the measurement of the drug’s success. The market’s reaction was immediate and dramatic as the price of NYMOX common stock fell 82% to close at $.93 on unprecedented trading volume of 19.6 million shares. The Company’s U.S. BPH program is currently on hold, pending further evaluation of data.
Continue reading “Article: Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul Averback by Law Offices Bernard M. Gross, P.C. — NYMX”