Navigation Links
Ted Karkus and Karkus Slate of Directors Prevail in Federal Court, Seated as Directors of The Quigley Corporation; Ted Karkus Elected Chairman of the Board

DOYLESTOWN, Pa., June 15 /PRNewswire-FirstCall/ -- The Quigley Corporation, (Nasdaq: QGLY),, today announced that on Friday, June 12, 2009, the United States District Court for the Eastern District of Pennsylvania issued a decision and order rejecting the last of the challenges to the results of the May 20, 2009 shareholder meeting, at which the slate of directors nominated by Ted Karkus was elected to the Board of Directors of the Company.

The Court concluded in its most recent decision that the Company was "not likely to succeed on the merits" of the new claims asserted and that "when all of the dust has settled, there simply is no admissible evidence (even accepting for the moment that what Quigley has presented qualifies as 'new' -- a proposition which the Court does not accept) that is arguably relevant" to the claims asserted to prevent the new Directors from being seated.

Immediately following the Court's ruling, and without any consultation with the new Board, Guy Quigley announced his voluntary resignation as an officer and director of the Company. The new Board has accepted his resignation.

Also on Friday, June 12, immediately following the Court's ruling and Mr. Quigley's resignation, the new Board of Directors held its first meeting. The Board elected Ted Karkus as Chairman of the Board and elected members to its Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee.

The Audit Committee Chairman is Mark Burnett, and the other members of the Audit Committee are James McCubbin and John DeShazo. The Compensation Committee Chairman is John DeShazo and the other members of the Compensation Committee are Mark Burnett and Mark Leventhal. The Corporate Governance and Nominating Committee Chairman is Mark Leventhal and the other members of the Corporate Governance and Nominating Committee are Louis Gleckel, M.D. and Mark Frank.

Mr. Karkus commented, "I am confident that this Board of highly qualified and independent directors will be able to steer the Company in the right direction and enhance values to all shareholders. Consistent with my pledge during the election campaign, the Chair of each committee is a substantial shareholder by means of his significant personal investment in the Company. We look forward to working cooperatively with the many talented employees of the Company and its subsidiaries in advancing the Company's business plans."

Mr. Karkus went on to state that, "The first quarter report previously filed by the Company, (seasonally the second strongest quarter of the year), stated that the Company lost over $2 million while spending less than $250,000 on R&D. We will have the immediate and daunting task of halting the precipitous decline in financial performance that the Company has experienced over the past few years."

"Our long term goals include restoring investor confidence in the Company, its management and its prospects. Ten years ago, for the week that ended June 20, 1999, the Company's common stock traded in a range of $4.73 to $4.99 per share. In November, 2005, the Company's stock reached nearly $17.00 per share. Last Friday, the Company's stock closed at $4.26 per share. While we cannot make any assurances of future performance, the Company now has an experienced and entirely independent Board of Directors that is committed to doing their best for the Company and all of its shareholders."

About The Quigley Corporation

The Quigley Corporation (NASDAQ: QGLY, 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. ( 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.


    Ted Karkus                  Media                    Investor Relations
    Chairman of the Board       Karen Pineman            Carl Hymans
    The Quigley Corporation     G.S. Schwartz & Co.      G.S. Schwartz & Co.
    (516) 569-9999              212.725.4500             212.725.4500

SOURCE The Quigley Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. The Quigley Corporation Issues Open Letter to Stockholders; Urges Stockholders to Reject Dissident Ted Karkus Solicitation Efforts
2. 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
3. Judge Rejects Quigleys Claims - Karkus Director Candidates Prevail in Federal Court
4. Karkus Nominees Caution Quigley Shareholders Not to be Fooled by the Companys Latest Announcement
5. 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
6. 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
7. 15th Anniversary Celebration Shoot For a Cure Event Slated for Nov. 8
8. Loma Linda University to Dedicate Proton Treatment Center to Cancer Therapy Pioneer James M. Slater, M.D.
9. Datascope Recommends Shareholders Re-Elect its Two Incumbent Directors and Reject Ramius Opposition Slate
10. Coherent Announces Director Slate for Upcoming Annual Meeting
11. Flip-chart book translates complicated medical procedures into easy-to-understand language
Post Your Comments:
(Date:11/27/2015)... ... 2015 , ... There is only one major question facing all law firms ... This question has not been an easy question to answer. Especially when the senior ... younger workforce don’t share the same discipline around working long hours. , In ...
(Date:11/27/2015)... ... , ... A team of Swiss doctors has released a report on mesothelioma ... posted the findings on the website. Click here to read the details now. ... patients who were treated with chemotherapy followed by EPP surgery. Among the 106 patients ...
(Date:11/27/2015)... ... November 27, 2015 , ... ProSidebar: Fashion is ... Pro X. With ProSidebar: Fasion, video editors can easily add an informative sidebar ... minimalist title opener. Utilize presets featuring self-animating drop zones, lines, bars, and text ...
(Date:11/27/2015)... ... 27, 2015 , ... The moment you stop improving is ... fulfilling the needs of advisers and clients but going above and beyond to ... customer service. However, there's always room for improvement, which is why the entire ...
(Date:11/27/2015)... ... 2015 , ... Avid collector, Andrew Hawley from Vintage Rock Posters, announces his ... is one of Joplin's most famous and beautiful concert posters. The concert was held ... Ann Arbor. The According to Hawley, "It is hard to believe that Joplin's stardom ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Surface Marker Testing Market: Supplier Shares, ... their offering.  --> ... the  "2016 Future Horizons and Growth ...
(Date:11/25/2015)... 25, 2015  The American Academy of Pediatrics ... and the March of Dimes cheered today,s signature ... Infants Act of 2015 (S.799), which takes ... born exposed to drugs, such as opioids, and ... all three organizations have worked together leading advocacy ...
(Date:11/25/2015)...  ARKRAY USA , Inc., a ... demonstrating the accuracy of its blood glucose meter systems. ... Diabetes and Cardiovascular Disease in Los Angeles ... ® 01 meter and the Assure ® ... to accurately measure glucose levels in blood is essential ...
Breaking Medicine Technology: