In December, we reported on how a Swedish company that was about to go public dealt with a retraction of a paper in the Proceedings of the National Academy of Sciences (PNAS) that formed some of the basis of their work. The company, Wnt Research, was scheduled to go public on November 26, 2010, but after the retraction appeared on November 11, they postponed the initial public offering (IPO), and let every investor that had expressed an interest know about the retraction.
We thought the company’s moves demonstrated a remarkable transparency. Now we learn that the scientist responsible for the errors that led to the retraction has given back the shares which he or she was given when the company was founded. The company announced the news in a press release last week: Continue reading The $240,000 retraction: Scientist responsible gives back company shares