litigation
confidence high
sentiment negative
materiality 0.55
Puma Biotechnology retracts defamatory statements about Dr. Frederic Eshelman after court ruling
PUMA BIOTECHNOLOGY, INC.
- Retracts 2016 investor-presentation statements implying Dr. Eshelman was fired from PPD and involved in clinical fraud.
- Fourth Circuit affirmed liability verdict on June 23, 2021, but vacated excessive damages award.
- Company states no portion of presentation should be interpreted to suggest Eshelman fired or implicated in fraud.