Epitomee Medical fined for hiding data that killed Nestle deal

jpost.com

Israeli company Epitomee Medical and two former executives were fined NIS 1.85 million for misleading investors by concealing data that led to the cancellation of a major Nestle deal, causing a stock crash. The company reported success in a clinical trial in late 2023 but omitted that results failed to meet stricter efficacy targets set with Nestle, threatening the agreement. Stock surged 80% and 29% after the reports before dropping 71% when the cancellation was announced. Epitomee was fined NIS 1.3 million, former CEO Dan Hashimshony NIS 300,000, and chairman Shimon Eckhouse NIS 250,000, with both executives also receiving temporary bans from serving in regulated roles.


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