BRIEF: Inspire Pharmaceuticals says it has reached deal in SEC inquiry

DURHAM, Oct 01, 2008 (The News & Observer - McClatchy-Tribune Information Services via COMTEX) -- ISPH | Quote | Chart | News | PowerRating -- Inspire Pharmaceuticals said in a regulatory filing Tuesday that it has settled a Securities and Exchange Commission investigation related to the clinical trials of its experimental dry-eye treatment.

The SEC opened a formal probe of the Durham company in August 2005 because of possible omissions and misstatements in reports to investors. CEO Christy Shaffer and Mary Bennett, who served as executive vice president of operations and communications, also were implicated.

Inspire reported that neither the company nor Shaffer and Bennett admitted or denied findings of the probe and that the settlement did not include fines or other sanctions. The company did not provide further details.

Staff writer John Murawski; Staff writer Alan M. Wolf; Staff writer Sue Stock; Staff writer Jonathan B. Cox

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