This gives us a glimpse as to how far some will go to trash a company:
Friday January 17 9:02 AM EDT
Quigley Requests SEC Probe Into Fake Press Releases/Messages
DOYLESTOWN, Pa., Jan. 17 /PRNewswire/ -- The Quigley Corp has requested the Securities and Exchange Commission
(SEC) investigate repeated attempts to discredit the company through fake press releases to the media and incorrect
information posted on the Internet.
Fake press releases include the resignation of a key executive who did not resign, and an overseas stock offering that was
never made. The false information ran on major news and financial wires. In addition, several large drug chains which are
Quigley customers, and a financial research firm have received faxes containing inaccurate information trying to discredit the
company.
"Someone is deliberately trying to harm the company, its customers and its stockholders," said Guy Quigley, chief executive
officer of The Quigley Corporation. "We have asked the SEC to get to the bottom of this to protect the interests of our
stockholders."
The Quigley Corporation is the maker of Cold-Eeze, a zinc gluconate glycine lozenge proven in a study conducted by the
world-renowned Cleveland Clinic Foundation to reduce the length and severity of the common cold by nearly half. Sales of
Cold-Eeze have been extremely strong.
One of the accusations concerned the Cleveland Clinic study.
The study, published in the Annals of Internal Medicine (one of the most respected medical journals in the country) "was
carefully and well done," said Dr. Ananda S. Prasad, M.D. and Ph.D. Dr. Prasad is a professor at the Wayne State University
School of Medicine and a leading world expert on zinc.
Some of the events reported to the SEC include:
-- A press release stating that Chief Financial Officer Eric Kaytes had resigned was issued by parties unknown and was
picked up by wire services.
Kaytes has not resigned. In fact, he has been promoted to Vice President of Management Information Systems and remains as
Secretary/Treasurer and a Director of the company.
-- On Friday, January 10, 1997, a second press release on forged company stationery, announced Quigley filed a $10 million
regulation "S" offering.
Companies sometimes use this type of stock offering to sell stock overseas to raise money quickly. Such an offering was never
made nor considered. The release was sent to Bloomberg Newswire which ran the story.
-- On numerous occasions beginning Jan. 1, someone posing as a Quigley executive posted incorrect information on America
Online, including that Quigley was going to introduce a new product (a toothpaste).
Quigley does not have a toothpaste under development nor has it considered developing such a product.
-- Also since Jan. 1, several major Quigley customers and a financial research firm received faxes with false information trying
to discredit the company.
The faxes come from large office supply stores in New York, New Jersey and Texas which offer public fax services.
"These false documents have created a rumor mill and form the basis of some recent and incorrect stories," said Guy Quigley.
Quigley Corporation is asking the SEC to investigate to determine who is behind this disinformation campaign.
Quigley Corporation is the maker of Cold-Eeze, a zinc gluconate glycine lozenge which reduces the length and severity of the
common cold. The company is engaged in the research and development into various types of health-related food supplements
and homeopathic cold remedies. Founded in 1989 and traded on the OTC Bulletin Board under the symbol QUIG, Quigley is
based in Doylestown, Pennsylvania. SOURCE The Quigley Corporation |
