Remember how "innocent until proven guilty" was su

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Posted On: 01/06/2023 12:40:35 PM

Posted By: Drano

Remember how "innocent until proven guilty" was supposedly not something we should consider, when someone is charged by the SEC?

Well, it only took the SEC 6 years, but they dropped all charges against the CEO of a small company.

https://endpts.com/sec-drops-charges-against-...ech%20exec

Quote:
The US Securities and Exchange Commission has dropped its claims against the former CEO of Osiris Therapeutics, who was accused of lying about the regenerative medicine player’s financial performance.

All claims against Lode Debrabandere have been dismissed, according to a court filing from late November, capping a legal saga that goes all the way back to 2017.

“The SEC’s allegations had no merit, and the complete dismissal is the only correct, fair, and just outcome,” Debrabandere wrote in an email to Endpoints News. “I am grateful that the SEC ultimately recognized it should drop the action against me.”
.....

Debrabandere said overall, the government agreed that he did “everything possible to steer the company in the right direction and added quality to the management team and partnerships,” by hiring new senior executives and swapping out a distributor network for new partners.

“I did all of that in the first 12 months of being CEO,” he wrote. “Not everything was perfect right away, but we were working towards that.”