SEC rumor hounds Blech

WASHINGTON - Renewed reports last week of an SEC inquiry into investor David Blech resulted in the perhaps predictable denials from Blech's attorneys and a perhaps equally unhappy clarification from an outside attorney whose comments in the news story cast doubt on Blech's stock promotion practices.

The Wall Street Journal reported last week that the SEC "is investigating whether biotech investor David Blech may have violated securities laws by bestowing cheap stock on money managers and others prior to public offers."