Tuesday January 14 4:11 PM EDT
Quigley Corporation Victimized by Second Counterfeit Press Release
Is Assessing Legal Action to Halt Continuing Smear Campaign Against Company
DOYLESTOWN, Pa., Jan. 14 /PRNewswire/ -- The Quigley Corp announced today that it had been the victim of a
second counterfeit press release within two weeks. On Friday, January 10, a release printed on counterfeit Quigley
stationery was faxed from a "Staples" store in New York City to Bloomberg News Service purporting to announce the
completion of a fictitious $10 million Regulation "S" offering. The release was broadcast by Bloomberg without any effort
to confirm its authenticity. On December 31, 1996, a similar phony release was broadcast which purported to announce
the resignation of the Company's CFO. The Company believes that these actions are criminal in nature and has advised the
appropriate law enforcement authorities.
For the past month, the Company has been faced with an onslaught of false, misleading and malicious information
disseminated through Internet services such as America Online and through anonymous faxes and phone calls to major
customers of the Company. The campaign has included the use of an impostor on America Online posing as Company
President Guy Quigley, and publishing of comments attributed to a fictitious "son" of Mr. Quigley. The Company has
previously requested the Securities and Exchange Commission to investigate these matters and to determine the parties
responsible.
"This vicious misinformation campaign is designed to hurt this Company and its Shareholders. The disinformation campaign
has continued with the publication of a clearly biased and inaccurate portrayal of the company, its management, its medical
studies, and its patented COLD-EEZE(TM) product, which was published in `Barron's' this past weekend," said Mr.
Quigley. "The Board of Directors has directed legal counsel to protect the Company's integrity and reputation and they will
be assessing the legal remedies which the Company may pursue.
Despite the disinformation campaign attempting to disrupt the Company's operations, the previously announced expansion
of manufacturing capacity for the COLD-EEZE(TM) cold remedy lozenge product has been implemented and production
as of January 13, has been increased to $1.5 million of product per week. Due to the currect purchase order backlog in
excess of $11 million, the Company is accelerating plans to implement further production increases. The Company
anticipates continued strong consumer demand for COLD-EEZE(TM) in part due to a favorable review of the product
which was broadcast nationally on the ABC Network's 20/20 program on January 10, 1997. SOURCE The Quigley Corporation
Hey Joe, wouldn't it be great if ADVR had a CEO that could set the record straight when the company and its shareholders are attacked by malicious disinformation. Dr. H's silence has been a bit unnerving. |
