Pathway Genomics Investor Says Board Ignored Asset Raid

By Gina Kim (March 4, 2022, 8:42 PM EST) – A Curacao-based investor has hit former board members of former biotech company Pathway Genomics with a shareholder derivative action in Delaware Chancery Court who claims to have turned a blind eye to a Ukrainian businessman’s scheme to raid and transfer assets to another company, leaving shareholders nothing.

Neem International CV, which has held preferred stock in the San Diego-based company since 2015, filed a lawsuit Wednesday against former Pathway CEO Vadim Shulman and board members.

The lawsuit alleged that Pathway’s board of directors, which included former Chairman of the Joint Chiefs of Staff Peter Pace, allowed Shulman to indebt the company, take…

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