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August 10, 2011

Addressing shareholder concerns

Written by George Lazar, President and CEO

Giv­en yes­ter­day’s news about a gov­ern­ment inves­ti­ga­tion that inter­viewed sev­er­al Lazar Phar­ma­ceu­ti­cal employ­ees, com­bined with the recent volatil­i­ty in the stock mar­ket, I would like to address the con­cerns I’ve been hear­ing from our shareholders.

First off, the facts about the gov­ern­ment inves­ti­ga­tion that was revealed on CNBC, CNN and oth­er tele­vi­sion news chan­nels yes­ter­day. This is NOT an inves­ti­ga­tion of Lazar Phar­ma­ceu­ti­cals or any of our cor­po­rate activ­i­ties. Rather, the Naval Crim­i­nal Inves­tiga­tive Ser­vice (NCIS) has ques­tioned sev­er­al Lazar employ­ees in con­nec­tion with the dis­ap­pear­ance of a US Navy mid­ship­man who was enrolled in one of Lazar’s clin­i­cal trials. 

I want to make this com­plete­ly clear: At this time, there have been no charges filed and no accu­sa­tions made regard­ing any crim­i­nal or improp­er activ­i­ty on behalf of Lazar Phar­ma­ceu­ti­cals. Lazar and all of its employ­ees are coop­er­at­ing ful­ly with the NCIS investigation.

Lazar Phar­ma­ceu­ti­cals remains focused on its ground­break­ing research efforts and has not been dis­tract­ed by the NCIS inves­ti­ga­tion or the unrest in the glob­al mar­kets. I encour­age our share­hold­ers to dis­miss any rumors they may hear and instead remain aware of the facts.

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