The SEC has filed civil fraud charges against two former Bristol-Myers Squibb [corporate website] executives. In a press release, the SEC says that Frederick Schiff and Richard Lane fraudulently inflated Bristol-Myers' revenue by stuffing its distribution channels by pressuring customers to buy excess products and then carrying the customers' costs on the excess. Last year, Bristol-Myers settled with the SEC over the same charges [JURIST report] for $150 million. Reuters has more.
Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.