- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-09-27T18:00:00
A former Alzheimer’s researcher manipulated the results of a Cassava Sciences drug, with the pharmaceutical company and its former chief executive reaching a $40 million settlement with the Securities and Exchange Commission (SEC) over allegedly misleading the public.
Prior to 2020, researcher Hoau-Yan Wang, associate medical professor at City University of New York Medical School, embarked on a purported blind clinical trial of the experimental Alzheimer’s drug Simufilam.
Wang, who had a financial stake in the outcome of the drug trial, found out which patients had taken the drug in a third of cases and skewed the data to make the drug look dramatically more effective, the SEC alleged in it order against Wang.
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A Department of Justice criminal investigation into illegal short selling is just the latest indication these schemes demand greater scrutiny that chief compliance officers and in-house counsel can no longer afford to ignore.
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