SEC Plans Probe Into Drug Stocks: The...
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From Times Staff and Wire Reports
SEC Plans Probe Into Drug Stocks: The SEC plans to conduct an inquiry into Genetics Institute Inc., a Massachusetts biotechnology company whose stock plunged after the firm lost a drug patent lawsuit. GI said it was advised orally of the planned probe by the SEC’s Boston office. The company’s disclosure came in documents it filed with the SEC in connection with a planned securities offering to the public.
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