Imaging3 CEO Facing SEC Suit Resigns Position
Dean Norman Janes, the now former CEO of Imaging3, leaves the Burbank, Calif.-based developer of the Dominion Volumetric Imaging Scanner amid allegations that the intentionally mislead investors in the company about the true reasons the Dominion scanner failed three times to get U.S. Food & Drug Administration (FDA) 501k clearance. In a filing with the U.S. Securities and Exchange Commission (SEC), Imaging3 announced that it will replace Janes as director, chairman of the Board of Directors and CEO by Imaging3 co-founder Dane Medley. Janes was sued by the SEC in June of 2013 for allegedly leading company investors to believe the problems with the Dominion’s application for clearance to market were primarily administrative in nature when in actuality the FDA rejected the Dominion scanner because of specific scientific and technical concerns, such as poor image quality and the possibility the device would overheat. Read more about the SEC suit.