DEER PARK, N.Y., June 24, 2008 (PRIME NEWSWIRE) -- Langer, Inc. (Nasdaq:GAIT) ("Langer" or the "Company") announced the appointment of David S. Hershberg to fill a vacancy on its Board of Directors to serve until the next annual meeting of stockholders. Mr. Hershberg is a graduate of New York University and Harvard Law School and has had a distinguished career serving in various legal capacities for companies such as IBM, Shearson Lehman Brothers, and Viatel Inc., in addition to directorships at Bank Julius Baer. Since 2006, Mr. Hershberg has served as a consultant to companies such as Aquiline LLC and The Solaris Group, in addition to serving on the Board of Directors for a number of private equity sponsored-owned businesses.
In addition to serving as a Director, Mr. Hershberg has also been appointed to the Compensation Committee and the Nominating/Corporate Governance Committee.
Mr. Hershberg qualifies as an independent director under Nasdaq Marketplace Rule 4350 (the "Rule"), as upon his appointment, the Company received notification from Nasdaq that it had regained compliance with the Rule and was therefore in compliance with all Nasdaq listing standards.
Langer, Inc., together with its wholly owned subsidiary Silipos, is a provider of quality medical products to the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft and Silipos, the Company offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets. The Company sells its medical products primarily in the U.S. and Canada and in more than 30 other countries to national, regional, international and independent medical distributors and directly to healthcare professionals and patients. The Company sells its personal care products to branded consumer products companies, direct marketers, distribution partners, and specialty retailers, among others. Langer is based in Deer Park, NY, and has additional manufacturing facilities in Niagara Falls, NY, Winooski, VT, Montreal, Canada, and sales and marketing offices in Toronto, Canada; and New York, NY. You can learn more about us by visiting our website at http://www.langerinc.com.
Forward-looking Statements
This press release includes "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our management that, although believed by the Company to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of its control that may cause its business, strategy or actual results to differ materially from the forward-looking statements. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions to identify forward-looking statements. These risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K and most recently filed Forms 8-K and 10-Q, which may be obtained at our web site at http://www.langerinc.com or the Securities and Exchange Commission's web site at http://www.sec.gov.