Steven Burrill Lawsuit Coverage

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Steven Burrill Lawsuit Coverage

Coverage of the recent lawsuit against prominent biotech investor Steven Burrill from various online resources:

FierceBiotech: Partners claim Steven Burrill looted biotech fund of $17M-plus
“Steven Burrill has landed in a fresh tub of hot water over allegations he embezzled millions of dollars from a biotech fund he ran–a year after one of his former staffers filed suit claiming that more than $20 million was diverted, which in turn prompted the fund’s institutional investors to boot the venture exec out of his management role.” Full article

SF Business Times: High-profile biotech investor Burrill sued for fraud, theft
“The suit, filed July 6 in San Francisco Superior Court, alleges that Burrill, former Burrill & Co. chief legal counsel Victor Hebert and former CFO Helena Sen stole more than $17.6 million million from Burrill Life Sciences Capital Fund III L.P. over five years ending in 2013. It also claims that the moves “devastated” the fund, causing more than $30 million in investment losses that haven’t yet been stanched.” Full article

QMed: Healthcare Investor Allegedly Embezzled $17M
“The lawsuit states that the fraud “came to light only because three insiders from the defendants’ organization informed the fund’s limited partners,” which sparked an investigation. The partners’ investigations sparked civil and criminal investigations by federal authorities, according to the lawsuit.” Full article

WSJ: Biotech Investor Steven Burrill Is Sued by Fund (subscription-based)

July 15th, 2015|