SEC v. PixarBio Corp.

PixarBio Corporation and Frank M. Reynolds allegedly misled investors with false claims about the company’s progress in developing a purported method of delivering non-opiate, post-operative pain medication. Reynolds, with two others, allegedly engaged in a fraudulent scheme to acquire and merge PixarBio with a publicly traded company and to secretly manipulate the sales of shares in the new entity, according to the SEC.

Summary generated from official Securities and Exchange Commission press release