3/24/2014 8:34:50 AM
In federal filings, Cambridge biotech InVivo Therapeutics disclosed that it’s suing co-founder and former CEO Frank Reynolds, who resigned suddenly last August due to what the company said a were health problems. Cambridge-based InVivo (Nasdaq: NVIV) revealed in a filing Monday that in November, it filed a lawsuit in Middlesex Superior Court against Reynolds, who headed the company for eight years and served as the company’s CFO and president in addition to its CEO. According to the filing, the suit alleges breaches of fiduciary duties, breach of contract, conversion, misappropriation of corporate assets, unjust enrichment and corporate waste, and seeks money damages and an accounting.
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