STAT+: Biotech entrepreneur Sam Waksal accused of \u2018reckless conduct\u2019 in new lawsuit
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Sam Waksal is once again in legal trouble.\u00a0<\/p>\n
The biotech entrepreneur, who was famously convicted of insider trading in 2003, allegedly breached his fiduciary duties and engaged in \u201cgrossly negligent and reckless conduct\u201d as the chairman, CEO, and largest shareholder of Equilibre Biopharmaceuticals, according to a lawsuit filed this week in U.S. bankruptcy court by the trustee of the company.<\/p>\n
Among Waksal\u2019s \u201cmost reckless acts,\u201d the lawsuit alleges, was an incident in which\u00a0 Waksal and other Equilibre employees smuggled into the U.S. a veterinary medicine that was unapproved for human use, and then administered it to a severely ill child \u201coutside of approved protocols and without the Food and Drug Administration\u2019s authorization.\u201d\u00a0<\/p>\n
Continue to STAT+ to read the full story\u2026<\/a><\/p>\n<\/div>\n