A bitter story of investing

A friend invested in a drug company and lost almost every thing since the stock price dropped from several dollars to cents.  The company kept reporting good news, Why the final step failed?

A technician said this is because the unsatisfactory date were deleted, only good numbers were used, drug dose was also manipulated. The technician said he was asked to do the fraud by his immediate boss for obtaining more shares and promotion, the big boss asked him, "what evidence do you have?" He told  I have copy and kept it in my house ... ...

The truth is still unknown yet.