|
Quotes & Info
|
| ACTC > SEC Filings for ACTC > Form 8-K on 31-May-2012 | All Recent SEC Filings |
31-May-2012
Other Events
Advanced Cell Technology, Inc. today announced that the company has been named
as a defendant in a civil action brought by the Securities and Exchange
Commission related to transactions involving the sale and issuance of the
company's securities. The SEC alleges that certain sales of shares to outside
organizations, completed in late 2008 and early 2009 under the company's former
management, resulted in $3.5 million in proceeds to the company in violation of
Section 3(a)(10) of the Securities Act of 1933, as amended. The transactions in
question were conducted by the company's former management, and the company is
evaluating its options for recouping any loss that may be incurred. The company
believes that the litigation will have no material impact on its plans as an
organization or have any material impact on its ongoing clinical trials or
operations. The company will continue to cooperate with the SEC investigation
and is examining all of its options for a prompt resolution of the litigation.
Forward-Looking Statements
Statements in this current report on Form 8-K regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company's periodic reports, including the report on Form 10-K for the year ended December 31, 2011. Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. There can be no assurance that the Company's clinical trials will be successful.
|
|