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:10/13/2017)... ... , ... Many families have long-term insurance that covers care for a family ... for care if the client has a cognitive impairment diagnosis. , “What this ... often waived, so the benefits from their insurance start immediately,” said Mechell Vieira, owner ...
(Date:10/13/2017)... ... 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out ... free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting ... children of all ages; it is a non-competitive, non-timed event, which is all about ...
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, a leader in agile ... a contract by the Center for Medicare and Medicaid Services (CMS). The Enterprise ... use of Agile methodologies in a consistent and high value manner across CMS ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... advisory services for healthcare compliance program management, will showcase a range of technology ... Association for Assisted Living (NCAL) Convention and Expo to be held October 14–18, ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company has developed a ... and regulatory authorities worldwide. From Children’s to Adults 50+, every formula has been ... standard. , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... Centers for Disease Control and Prevention (CDC), influenza vaccination should take ... communities across Massachusetts , Connecticut , ... through the end of the month. *Some exclusions apply ... ... by the end of October, according to the Centers for Disease Control ...
(Date:10/2/2017)... Mich. , Oct. 2, 2017 Diplomat ... 8th Day Software and Consulting, LLC , and ... 8th Day Software, based in Tennessee ... LLC. 8th Day expands EnvoyHealth,s service offerings for health ... development. "In an ...
(Date:10/2/2017)... Fla. , Oct. 2, 2017  AllianceRx Walgreens ... company formed by Walgreens and pharmacy benefit manager Prime ... its new brand, which included the unveiling of new ... , as well as at a few other ... the new brand to patients, some of whom will ...
Breaking Medicine Technology: