Quigley shareholder claims victory in court ahead of Wednesday meeting

By Lisa Kerner

Charlotte, N.C., May 18 - The U.S. District Court rejected Quigley Corp.'s bid to block shareholder nominees led by Ted Karkus from soliciting votes, Karkus announced in a news release on Monday.

Karkus said that as a result of the court's decision on Friday, "all shareholders remain free to vote for change" by voting for the dissident slate at Quigley's annual meeting on Wednesday.

As previously reported, Karkus, a managing member of Forrester Financial, LLC, filed a preliminary proxy statement with the Securities and Exchange Commission nominating a new board of directors for Quigley that includes himself and:

• Mark Burnett, executive vice president and chief financial officer of MercBloc, LLC;

• John DeShazo, chief executive officer of FBN Construction Co., Inc.;

• Mark Frank, president of a division of GSW Worldwide;

• Louis Gleckel, co-founder of ProHealth Care Associates;

• Mark Leventhal, former general partner of Beacon Cos., LLP; and

• James McCubbin, executive vice president and CFO of WidePoint Corp.

According to Karkus, Quigley should have spent money on research and development instead of on litigation.

In the first quarter of 2009, the company spent less than $250,000 on research and development while losing over $2 million, Karkus said.

Quigley, based in Doylestown, Pa., manufactures and distributes homeopathic and health products in the United States.

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