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Gold/Mining/Energy : Nuvo Research Inc
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From: DaveAu4/27/2007 10:50:09 AM
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The Ontario Securities Commission has accused Rebecca Keeler of failing to disclose material information to shareholders during her time as chief executive officer of Dimethaid Research Inc. The OSC said Ms. Keeler failed to tell investors in 2002 that the U.S. Food and Drug Administration had rejected Dimethaid's application for its topical pain reliever Pennsaid. The OSC added Ms. Keeler did not tell Dimethaid's board of directors or lawyers and underwriters about problems with the FDA when the company was filing prospectuses in 2003 and 2004 for warrant offerings. Ms. Keeler was ousted in 2004 following a proxy battle with dissident investors, who renamed the company Nuvo Research Inc. Nuvo Research reached a settlement with the OSC yesterday, agreeing to pay $15,000.
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