WOODMERE, N.Y., May 19 /PRNewswire/ -- The Quigley Corporation (Nasdaq: QGLY) announced yesterday that its Board was exploring various options, including hiring an investment banker and exploring "strategic alternatives".
Ted Karkus, Mark Burnett, John DeShazo, Mark Frank, Louis Gleckel, MD, Mark Leventhal, and James McCubbin ("the Shareholder Nominees") believe that the recent announcement is an 11th hour attempt to obtain shareholder votes and is further evidence of the need for a slate of new highly qualified directors to protect the interests of all shareholders.
"Shareholders should ask why the incumbents released this announcement just two days before the shareholder meeting," commented Mr. Karkus. "A responsible Board should always be reviewing the Company's strategic alternatives," he added.
Ask yourself if you want the same Board that managed the Darius/Innerlight sale last year to execute any further "strategic alternatives". The Darius/Innerlight division was sold for a mere $1 million just before it turned around in early 2008. Please read our last press release which summarizes some of the many facts that trouble us with that transaction.
And, finally, ask yourself why they didn't pursue these "strategic alternatives" when the Company's OTC division had increasing sales and increasing profits, instead of now, when the division is likely to be worth significantly less, given declining sales, increasing losses and a weaker environment for selling assets.
For more information on the actions by Quigley management that have necessitated this proxy contest and the Federal Court's decision to reject Quigley's claims against the Shareholder Nominees, shareholders should refer to our previous press releases and the court order which are available at
|SOURCE Ted Karkus|
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