SFBC International Provides Update on Board Of Directors
18 Gennaio 2006 - 1:30PM
Business Wire
SFBC International, Inc. (NASDAQ: SFCC), a provider of drug
development services to branded pharmaceutical, biotechnology,
generic drug and medical device companies, today provided details
on the composition of its Board of Directors. Due to recent
resignations, changes were made to the Board of Directors, which
Nasdaq recently confirmed are compliant with Nasdaq Marketplace
Rules. SFBC International stated that it is currently in compliance
with Nasdaq Marketplace Rules 4350 (c)(1) and 4350(d)(2), but it
was not in compliance for a limited period of time as a result of
the resignation of Dr. Leonard Weinstein on December 15, 2005.
Under Rule 4350(c), SFBC had until the earlier of its next annual
shareholders' meeting or December 15, 2006 to appoint an additional
independent director and thereby regain compliance. On January 13,
2006, Nasdaq provided SFBC with notice of the prior non-compliance
with Marketplace Rules 4350(c)(1) and 4350(d)(2). This release is
being issued in accordance with Marketplace Rule 4803(a). The
company regained compliance with the appointment of Mr. David
Lucking to the Audit Committee on December 21, 2005, and upon the
resignations of Dr. Lisa Krinsky and Mr. Arnold Hantman, which were
effective on December 31, 2005. Nasdaq Marketplace Rules 4350
(c)(1) and 4350(d)(2) require that a majority of the Board be
comprised of independent directors and that the Audit Committee be
comprised of three independent directors, including at least one
member who has financial sophistication. As of December 31, 2005, a
majority of the Company's Board of Directors was comprised of
independent directors as required by Nasdaq Marketplace Rule
4350(c)(1). In addition, as required by Nasdaq Marketplace Rule
4350(d)(2), the Audit Committee is currently comprised of three
independent directors, and Mr. Jack Levine, Chairman, and Mr.
Arnold Goleib each satisfy the Audit Committee Financial Expert
requirement of Securities and Exchange Commission Rules, which
satisfies the Nasdaq financial sophistication requirement. About
SFBC International, Inc. SFBC International, Inc. provides early
and late stage clinical drug development services to branded
pharmaceutical, biotechnology, generic drug and medical device
companies around the world. SFBC has more than 30 offices located
in North America, Europe (including Central and Eastern Europe),
South America, Asia, and Australia. In early clinical development
services, SFBC specializes primarily in the areas of Phase I and
early Phase II clinical trials and bioanalytical laboratory
services, including early clinical pharmacology. SFBC also provides
late stage clinical development services globally that focus on
Phase II through IV clinical trials. SFBC also offers a range of
complementary services, including data management and
biostatistics, central laboratory services, medical and scientific
affairs, regulatory affairs and submissions, and clinical IT
solutions. Additional information is available on SFBC's website at
www.sfbci.com.
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