Crime & Safety
Stanford Genetics Professor Fined $29M After Misleading Investors In Biotech Company
Cohen, according to court documents, claimed to have discovered the biological process that causes the degenerative Huntington's Disease.
December 29, 2022
A Stanford University genetics professor has paid nearly $30 million in restitution after a judge determined that he misled investors in a now-dissolved biotechnology company he founded.
Find out what's happening in Palo Altofor free with the latest updates from Patch.
In a judgement issued in June in Santa Clara County Superior Court, Dr. Stanley Cohen was ordered to pay $29.2 million to the Emeryville-based venture capital firm Alafi Capital and the Christopher Alafi Family Trust, the only two investors in Cohen's company Nuredis Inc.
Cohen, according to court documents, claimed to have discovered the biological process that causes the neurodegenerative condition Huntington's disease.
Find out what's happening in Palo Altofor free with the latest updates from Patch.
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