The San Diego RNA drug developer Arcturus Therapeutics (NASDAQ: ARCT) on Thursday reinstated fired CEO Joseph Payne and named ResMed (NYSE: RMD) founder Peter Farrell as chairman of the company’s new board of directors.
The four members of the company’s previous board, who resigned as part of an agreement reached last weekend, fired Payne in January, alleging in a lawsuit that he had misled them to advance his personal interests.
Payne’s dismissal triggered a power struggle. He co-founded Arcturus and is the company’s largest shareholder, with a 13.7 percent stake. Payne mounted a proxy challenge that asked shareholders… Read more »
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