Ted Karkus Admits to Financial Relationship With Dr. Richard A. Rosenbloom; Demonstrates Pattern of Improper Influence, Unethica
20 May 2009 - 8:02AM
PR Newswire (US)
DOYLESTOWN, Pa., May 19 /PRNewswire-FirstCall/ -- The Quigley
Corporation, (NASDAQ:QGLY), http://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:QGLYNASDAQ: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 . 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 Investor
Relations Carl Hymans G. S. Schwartz & Co. 212-725-4500
DATASOURCE: Quigley Corporation CONTACT: Gerard M. Gleeson, Vice
President, CFO of The Quigley Corporation, +1-215-345-0919; or Mark
Harnett or Bob Marese, both of MacKenzie Partners, Inc.,
+1-212-929-5500, ; or Investor Relations, Carl Hymans of G. S.
Schwartz & Co., +1-212-725-4500, Web Site:
http://www.quigleyco.com/
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