By a News Reporter-Staff News Editor at Pharma Business Week -- Platinum Management (NY) LLC and certain affiliates ("Platinum"), which beneficially hold approximately 30.34% of the shares of Echo Therapeutics, Inc. ("Echo" or the "Company") (NASDAQ: ECTE) on a fully converted basis, reported on the Town Hall Meeting it recently hosted for the concerned stockholders of Echo. All Company directors and stockholders were invited to attend the Town Hall Meeting, but sadly directors Vincent D. Enright, William F. Grieco and James F. Smith (the "Lingering Directors") did not participate despite the dire need for immediate change at Echo (see also Pharmaceutical Companies).
Mark Nordlicht, Managing Member, Chief Executive Officer and Chief Investment Officer of Platinum, stated: "We were pleased that the beneficial owners of what represents more than half of Echo's fully converted shares attended the July 18, 2014 Town Hall Meeting. I would like to take this opportunity to thank everyone who contributed their perspectives to that free and honest discussion. Based on what we heard, stockholders clearly are angry and frustrated that there has been only negative change at Echo since the overwhelming rejection at the recent annual meeting of the way the Lingering Directors have been running this corporation."
After an informative presentation by independent director Dr. Michael Goldberg, the only Company nominee elected at Echo's 2014 annual meeting, the stockholders in attendance engaged in a lively and frank discussion of the numerous shortcomings they believed that Echo was suffering through under the continued influence of the Lingering Directors.
Keywords for this news article include: Pharmaceutical Companies, Echo Therapeutics, Platinum Management (NY) Llc.
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