former Teva chairman Dr. Philip Frost accused of manipulating shares

The US Securities and Exchange Commission (SEC) has accused former Teva chairman Dr. Philip Frost of manipulating shares illegally. According to the SEC, Proust, together with his partner Barry Honig, is suspected of buying shares in low-performing companies in a way that led to a jump in the share price, promoting these companies without adequate exposure of all their holdings and contacts holdings, and then the sale of these shares and the abandonment of companies Worthless.
Proust's main activity, traded on Nasdaq and in Tel Aviv, lost 18% of its value on Nasdaq. OPCO is now worth $ 2.6 billion. Opco is not mentioned in the report as one of the companies that manipulates it, but it may have served as a tool for acquiring shares in some of the transactions.
 Philip Frost is a dermatologist and a Jewish businessman from Miami. He established a number of successful companies, including Ivax, which was sold to Teva, and in this deal became a leading shareholder in the company. After the death of Eli Hurvitz, he became chairman of Teva for a short period of time, when the main event that led to this was the recruitment and then the quick dismissal of CEO Dr. Jeremy Levin. , Most of which he acquired at the skeleton stage, and in recent years he has focused his activities on Opeco, although he continued to be involved in small, low-activity companies.