Phillip Frost has stepped down as chairman of Miami-based financial group Ladenburg Thalmann, a role he has held since 2006, the firm announced late Thursday.
Earlier this month, Frost was named in a securities fraud complaint brought by the SEC. Frost has denied the allegations.
“I have decided to retire from the Ladenburg Board and will concentrate my efforts on OPKO Health and my philanthropic interests,” Frost said in a statement. “As a long-term shareholder, I am confident in Ladenburg’s outlook and look forward to its continued growth and success.”
Read more at our news partner, the Miami Herald.
