Seventh Circuit Upholds Ruling Against Pharmaceutical Company for Failed Sexual Dysfunction Drug

You probably won’t be sued for lying about your sexual abilities in a bar or on an internet chat site, but lying about sexual dysfunction to the FDA and potential investors can get you  into a lot of trouble.

Last week, the Seventh Circuit upheld a district court’s ruling that Harvard Scientific Corp. and its founder committed fraud and violated securities laws by lying to investors about the potential of a new drug to treat male and female sexual dysfunction —

During the approval process, the Food and Drug Administration learned that Harvard Scientific had falsified the findings of a clinical study. The FDA ordered the company to stop trials until an audit was completed, but Harvard Scientific continued to tout the treatment’s alleged success to potential investors.  [source]

A link to the opinion is here.

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~ by siouxsielaw on September 28, 2010.

2 Responses to “Seventh Circuit Upholds Ruling Against Pharmaceutical Company for Failed Sexual Dysfunction Drug”

  1. This is a crazy case. The opinion says the founder scammed an investor who was in jail. Appeal didn’t seem to have a lot of merit. Short opinion for so many issues.

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