Securities and Exchange Commission v. Jacoby

FOR THE DISTRICT OF MARYLAND SECURITIES AND EXCHANGE * COMMISSION * * Civil Action No. CCB-17-3230 v. * * PHILIP R. JACOBY, JR., et al. * * * ***** MEMORANDUM This civil enforcement action brought by the Securities and Exchange Commission (the “SEC”) concerns the purportedly fraudulent activities of two executives formerly employed by Osiris Therapeutics, Inc. (“Osiris”).1 Lode B. Debrabandere, Osiris’s former Chief Executive Officer, and Philip R. Jacoby, Jr., Osiris’s former Chief Financial Officer, are accused of engaging in fraudulent conduct to artificially inflate Osiris’s revenue…