NEW YORK (GenomeWeb News) — Bio-Rad Laboratories today said it is not in compliance with American Stock Exchange listing requirements after the death of a director last week left the company without the required number of audit committee members.
Bio-Rad said it was expecting the letter, which it received on Jan. 9, after notifying AMEX on Jan. 4 of the death of the director, Philip Padou. Companies listed on the AMEX are required to have at least three members on their audit committee.
Bio-Rad has three months, or until April 9, to fill Padou’s spot on the committee. The company said it is seeking a replacement.