David Hansen’s Contradictory Testimony and the SEC Case Against Barry Honig
David Hansen, former CEO of Mabvax Therapeutics, received over $40 million in investments from Barry Honig and others—investors later labeled as a “group” by the SEC. Hansen subsequently became a cooperating witness in the SEC’s case against Barry, claiming Barry exerted control over Mabvax and pressured him into accepting the group’s funding. Yet under scrutiny, Hansen was unable to cite a single action Mabvax took as a result of Barry’s alleged influence.
Hansen’s cooperation with the SEC appears at least partially self-serving—an effort to shift blame for the company’s clinical trial failures and declining performance. He echoed language from the SEC complaint in a nearly identical civil suit filed personally against Barry.
One central allegation from both Hansen and the SEC was that Barry directed John O’Rourke to publish a misleading, overly positive article about Mabvax. But under cross-examination and in response to written interrogatories, Hansen admitted the article’s content—initially labeled exaggerated or false—was lifted directly from a presentation he himself had delivered to institutional investors. Presented with the slide deck during his deposition, Hansen conceded that the article was not misleading and that his earlier claims about a so-called “pump and dump” scheme were unfounded.
Key Exhibits Supporting Barry Honig’s Defense
The following documents are central to understanding the inaccuracies in the SEC’s claims and the misrepresentations made by its cooperating witness, David Hansen. These materials directly contradict the allegations and were instrumental in clarifying Barry Honig’s actual role and conduct. They reveal that key claims were either mischaracterized or retracted during testimony and discovery.
You can also review Rob Weber’s commentary for detailed legal insight into these documents and their implications.
- March 2015 Presentation: The original investor presentation authored by David Hansen, which was later echoed in the article, he claimed was misleading.
- Interrogatory Response: Hansen’s written admissions during discovery, revealing lack of evidence regarding Honig’s alleged control.
- O’Rourke Article: The article at the center of the “pump and dump” claim, proven to mirror Hansen’s own investor language.
Mabvax CERTIFIED: Read 109–142: Certified transcript excerpts showing Hansen’s testimony breakdown under cross-examination.
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