Navigation Links
Ted Karkus Admits to Financial Relationship With Dr. Richard A. Rosenbloom; Demonstrates Pattern of Improper Influence, Unethical Behavior, Falsification and Distortion; Company Questions What Else Karkus May Be Hiding From Shareholders
Date:5/19/2009

DOYLESTOWN, Pa., May 19 /PRNewswire-FirstCall/ -- The Quigley Corporation, (Nasdaq: QGLY), www.quigleyco.com, today announced that it has uncovered additional facts with respect to the relationship between Ted Karkus and Dr. Richard Rosenbloom. The following are among the facts that were uncovered:

  1. Karkus admitted in a press release today that he loaned $55,000 to Dr. Rosenbloom. Karkus is, and has been, a shareholder of The Quigley Corporation and Dr. Rosenbloom is, and has been, in possession of material non-public information as to the Company's drug candidate development programs during the term of the loan.
  2. In sworn testimony, Karkus stated that at no time did he have any financial arrangement with any employee of The Quigley Corporation. By his own admission in today's press release, this is a false statement which he made under oath.
  3. Karkus has been in touch with Company officials. The fact has never been disclosed in the proxy materials or otherwise.
  4. In clear violation of Company policy, Dr. Rosenbloom has never disclosed his relationship with dissident Karkus.
  5. According to Dr. Rosenbloom in an interview conducted by executives of the Company prior to The Quigley Corporation's press release earlier today, Dr. Rosenbloom advised that he had been offered an increase in salary and an undisclosed amount of stock to continue with the Karkus Group if the Karkus Group were victorious in gaining control of the Company.
  6. The proposed arrangement between Karkus and Dr. Rosenbloom has never been disclosed in any of Karkus's proxy solicitation material in violation of federal securities laws.

The Company assures its shareholders that there will be minimal impact, if any, on the Company's Pharma division with the suspension of Dr. Rosenbloom. Dr. Rosenbloom's role in the ongoing development programs has been shifting to Michael Petterutti for the past several months and during the time of this unfortunate breach of Company policy.

We urge Shareholders to take this information into consideration and vote the White Proxy Card.

About The Quigley Corporation

The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the COLD-EEZE(R) family of lozenges, gums and sugar free tablets clinically proven to cut the common cold nearly in half. COLD-EEZE customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has several wholly owned subsidiaries; Quigley Manufacturing Inc. consists of two FDA approved facilities to manufacture COLD- EEZE(R) lozenges as well as fulfill other contract manufacturing opportunities. Quigley Pharma Inc. (http://www.QuigleyPharma.com) conducts research in order to develop and commercialize a pipeline of patented botanical and naturally derived potential prescription drugs.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.

Important Additional Information

The Quigley Corporation ("Quigley" or the "Company") filed a definitive proxy statement with the Securities and Exchange Commission (the "SEC") on April 2, 2009 in connection with the 2009 Annual Meeting of Stockholders and began the process of mailing the definitive proxy statement and a WHITE proxy card to stockholders. The Company's stockholders are strongly advised to read Quigley's proxy statement as it contains important information. Stockholders may obtain an additional copy of Quigley's definitive proxy statement and any other documents filed by the Company with the SEC for free at the SEC's website at http://www.sec.gov. Copies of the definitive proxy statement are available for free at http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=07814.

In addition, copies of the Company's proxy materials may be requested at no charge by contacting MacKenzie Partners, Inc. at 1-800-322-2885 or via email at quigley@mackenziepartners.com. Detailed information regarding the names, affiliations and interests of individuals who are participants in the solicitation of proxies of Quigley's stockholders is available in Quigley's definitive proxy statement filed with SEC on April 2, 2009.

    CONTACT:

    Gerard M. Gleeson           Mark Harnett / Bob Marese
    The Quigley Corporation     MacKenzie Partners, Inc.
    Vice President, CFO         (212) 929-5500
    (215) 345-0919              Quigley@mackenziepartners.com

    Investor Relations
    Carl Hymans
    G. S. Schwartz & Co.
    212-725-4500
    carlh@schwartz.com


'/>"/>
SOURCE Quigley Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Dissident Stockholder Ted Karkus Found to Have Undisclosed Financial Arrangements With Dr. Richard A. Rosenbloom, COO Of Quigley Pharma, From 2008 to Date of Proxy: Rosenbloom Suspended Without Pay Pending Further Investigation
2. Karkus Nominees Caution Quigley Shareholders Not to be Fooled by the Companys Latest Announcement
3. Judge Rejects Quigleys Claims - Karkus Director Candidates Prevail in Federal Court
4. Quigley Corporation Receives Support from Leading Independent Proxy Advisory Firms; RiskMetrics and Glass Lewis Reject Dissident Stockholder Ted Karkus, Citing Failure to Provide Detailed Business Plan
5. The Quigley Corporation Issues Open Letter to Stockholders; Urges Stockholders to Reject Dissident Ted Karkus Solicitation Efforts
6. US FDA Admits Risks of Mercury Dental Fillings, Settles Lawsuit
7. Sutter Admits: Closing St. Lukes Likely to Reduce Charity Care
8. International Isotopes Inc. Announces First Quarter 2009 Financial Results
9. Apieron Strengthens Senior Leadership With Commercial, Financial Appointments
10. BMP Sunstone Reports First Quarter 2009 Financial Results
11. Lotus Pharmaceuticals, Inc. Reports First Quarter 2009 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
(Date:6/25/2016)... Washington, D.C. (PRWEB) , ... June 25, 2016 ... ... will discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June ... share their work on several important health care topics including advance care planning, ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson has ... he has implemented orthobiologic procedures as a method for treating his patients. The ... first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article ... people are unfamiliar with. The article goes on to state that individuals are now ... of these less common operations such as calf and cheek reduction. The Los Angeles ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... Dehaier Medical Systems Ltd. (NASDAQ: DHRM ) ... medical devices and wearable sleep respiratory products in ... with Hongyuan Supply Chain Management Co., Ltd. (hereinafter referred ... to develop Dehaier,s new Internet medical technology business. ... Hongyuan Supply Chain,s sales platform to reach Dehaier,s dealers ...
(Date:6/24/2016)... , June 24, 2016 ... appointment of Dr. Edward Futcher to ... Director, effective June 23, 2016.Dr. Futcher was also ... and Governance Committees.  As a non-executive member of ... expertise and strategic counsel to VolitionRx in connection ...
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
Breaking Medicine Technology: