In a significant legal outcome, the Paris Court of Appeal reaffirmed the acquittal of Alain Moussy, the CEO of AB Science, while also reducing the financial penalty imposed on the pharmaceutical company by 200,000 euros. The original sanction was related to a perceived lapse in meeting communication obligations, but with this decision, AB Science will be reimbursed the excess amount already paid. This ruling concludes a lengthy dispute initially instigated by the French market regulator, Autorité des Marchés Financiers (AMF), highlighting a positive turn of events for the company.
In March 2022, the AMF Sanctions Commission had accused AB Science of not meeting specific communication criteria concerning the publication of privileged information. Although Alain Moussy was fully acquitted at that time, the commission imposed a significant financial penalty on the company. Both parties sought further clarification from the Paris Court of Appeal.
This appellate court’s decision, which stands as final and binding, clears Moussy of any alleged insider trading and acknowledges the company’s adherence to regulatory compliance, albeit with adjustments made to the financial fine. As a result, the Paris-based pharmaceutical company, which specializes in developing protein kinase inhibitors (PKIs), continues to focus on developing critical treatments for high unmet medical needs, now with a reinforced sense of corporate integrity.
AB Science, known for its leading compound masitinib, remains poised to expand its research in oncology, neurological diseases, and other life-threatening conditions. The company’s vision and commitment to pioneering advancements remain strong, as it sets its sights on future scientific discoveries while navigating the regulatory landscape with renewed clarity.
