The Quigley (MM) (NASDAQ:QGLY)
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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/