Judicate Inc. announces board changes, name change, and special meeting of shareholders.PHILADELPHIA--(BUSINESS WIRE)--Feb. 8, 1996--Judicate Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap:JUDG JUDG Judges (Old Testament) ) announced Thursday the election of Milton Adler, Robert Gubitosi and William McSherry to its board of directors and the recent resignations of Stephen Drescher, Paul Burton, Michael Minkoff and Marc Powell as directors and officers of the company. The company also named Dominic Polimeni to be chairman of the board, president and chief executive officer of the company. Adler has been employed by the company for four years and is the company's treasurer. Gubitosi is employed by the company's subsidiary, Quest Electronic Hardware Inc., as its director of Operations. McSherry is a partner of Battle Fowler, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a law firm with offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Los Angeles. The company's board will now consist of five members, including Mitchell Hymowitz who has been a member of the board for more than two years. Among the actions taken by the board today was the approval of various proposals to be put before a special meeting of the shareholders to be held in March, one of which is a proposal to change the company's name to Questron Technology Inc. Other proposals include an increase in the number of common shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. to be issued by the company, the election of directors and the approval of a director stock option plan. The company said that the appropriate proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other will be distributed in due course. "We view all of these events to be extremely positive and consistent with the long-term strategy of the company," said Polimeni. "The departing directors served the company well during their tenure. The new name `Questron Technology Inc.' and the newly configured board are better suited to the company's strategy to be a premier low-tech supplier to the high tech industry," he added. Judicate, headquartered in Philadelphia, is a specialized distributor of fasteners and electronic hardware sold to electronic equipment manufacturers through its subsidiary, Quest Electronic Hardware Inc., and a supplier of alternative dispute resolution Procedures for settling disputes by means other than litigation; e.g., by Arbitration, mediation, or minitrials. Such procedures, which are usually less costly and more expeditious than litigation, are increasingly being used in commercial and labor disputes, Divorce services through its subsidiary, Judicate of Philadelphia Inc. Judicate's common stock is listed on the NASDAQ Small Cap Market under the symbol JUDG. CONTACT: Judicate Inc., Philadelphia Milton M. Adler, 215/546-6200 |
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