David Johnston has been found guilty of lying to investors and misleading them when he was at AVEO. He has resigned from ImmunoGen as its Chief Financial Officer.
The MA-based company announced in its securities filing that he will remain an employee through the end of the year and then will serve as a paid consultant for up to 12 months.
Until then, the company will look for another suitable candidate to handle the role.
More on David Johnston
ImmunoGen (IMGN) focuses on the development of a cancer drug called antibody-drug conjugate. It has drug-development alliances with several partners including Takeda Pharmaceutical and Jazz Pharmaceuticals.
This is another case of a top-level pharma executive making misleading claims to defraud investors.
Apparently, he was lying about what the FDA said about their products.
The company’s kidney cancer drug tivozanib was the primary reason behind the 2-year legal battle. Before this verdict, the company had already faced two other judgements.
Aveo’s ex-CEO and CMO faced similar judgments and the company settled for $4 million.
There are lots of investors who were misled by many fraudsters, they easily believe in their fake schemes. Curiosity pulls people into scams. Avoid dealing with them or else get ready for heavy losses.
Never trust them, they all were doing fraudulent activities. And the particular investor’s interest may lie in the market. Many people think that they have made the smart move by investing in this fraudulent company.
Investing in ImmungoGen is not a better move for many investors because they were indulged in many illegal businesses and were found guilty of misguiding their own investors.
These platforms are not worth it to investors. They were unreliable sources for investing hard-earned money, and they show unethical behavior toward the people. Avoid them at all costs.
Nowadays fraudulent activities were increased, It is very traumatic when people started saying that they were facing heavy financial losses while investing in this particular platform.
It was the worst experience for me, they are such a loose cannon. It’s my bad that I trusted them, and start investing in their fake schemes. I suffered heavy losses while investing in their Ponzi schemes.
Don’t trust them, they are full of crap. They made defaults in payments, and the investors the unable to claim their invested amount. This company was facing judgments of the court to show dishonesty to its investors.
David Johnston the mastermind behind this scam, has been found guilty of misleading its investors for their own wealth. He doesn’t care about the public interest.
I insinuated that don’t invest your hard-earned into this platform.
This company focuses on the development of cancer drugs, But these companies are never accountable to their partners, and I would try to avoid investment in this platform
They were never worth it to their investors, this company deals with many illegal activities. David Johnston has resigned from this company, for misguiding the people who were invested in this company.