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News Breaks
May 22, 2014
07:52 EDTECTEEcho Therapeutics sends letter to stockholders questioning Platinum Group agenda
In the letter, Echo Tehrapeutics said, "We do not believe that the Platinum Group has disclosed its true agenda in pursuing its costly and distracting proxy contest seeking to have Shepard M. Goldberg elected to the Echo Board of Directors, a nominee that your Board has previously interviewed and determined did not meet its criteria for membership on your Board. Mr. Goldberg is the first cousin and a longtime business associate of Michael M. Goldberg, M.D., Platinum's current designee to the Echo Board. Among other things, your Board considered that the majority of Mr. Goldberg's career had been spent at a privately-held swimming pool products company, that the only public company board experience that Mr. Goldberg had was at companies where either Michael Goldberg or Platinum was an investor, and the potential effect of Mr. Goldberg's familial relationship with Michael Goldberg as well as his past and present professional relationships with him and with Platinum on his ability to represent the interests of Echo and all of its stockholders. Mr. Goldberg also failed to respond to a request from the Echo Board requesting information on how he would address potential conflicts of interests with Platinum and Michael Goldberg."
News For ECTE From The Last 14 Days
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September 29, 2014
15:52 EDTECTEEcho Therapeutics holder calls for special meeting, seeks board member removal
Platinum Management, the largest stockholder of Echo Therapeutics, together with its affiliates owning approximately 30% of Echo's outstanding common stock on a fully converted basis, announced that it intends to file the documents required to demand a special meeting of stockholders of Echo to remove, for cause, directors William Grieco, Vincent Enright and James Smith. Platinum is not seeking control of the board.
September 24, 2014
17:34 EDTECTEEcho cut 70% of workforce, may see added cost from job cuts, bankruptcy possible
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09:28 EDTECTEPlatinum Management say financing deal for Echo Therapeutics negotiated
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September 23, 2014
19:34 EDTECTEEcho Therapeutics down 47% after hours following suspension of operations
18:42 EDTECTEEcho Therapeutics suspends operations to conserve liquidity
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September 21, 2014
13:26 EDTECTEEcho Therapeutics to host business news update conference call
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September 18, 2014
14:57 EDTECTEEcho Therapeutics Chief Compliance Officer Kimberly Burke to resign
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12:44 EDTECTEEcho Therapeutics trading halted, pending news
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