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…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Comments are closed.