In the news release, David Price Joins EDGAR Online as Chief
Financial Officer, issued 06-Jul-2010
by EDGAR Online, Inc. over PR Newswire, we are advised by the
company that the first paragraph, second sentence, should read
"interim CFO" rather than "interim CEO" as originally issued
inadvertently. The complete, corrected release follows:
David Price Joins EDGAR Online as Chief Financial Officer
NEW YORK, July 6 /PRNewswire-FirstCall/ -- EDGAR® Online,
Inc. (Nasdaq: EDGR), a leading global provider of XBRL (eXtensible
Business Reporting Language) software, services and data, today
announced that David Price has
joined the Company as Executive Vice President and Chief Financial
Officer. He replaces Ronald Fetzer,
who has acted as interim CFO since April 12,
2010. Mr. Price will be based in the Company's New York City office.
Mr. Price, 47, brings more than 20 years of financial management
experience to EDGAR Online. Prior to joining the Company, he was
Chief Financial Officer of Cornerstone Therapeutics, Inc., a
publicly traded specialty pharmaceutical company. During his
tenure, Cornerstone quadrupled its annual revenue to over
$100 million, and he was honored by
Triangle Business Journal as 2009 CFO of the Year for Small Public
Companies.
Prior to Mr. Price's employment with Cornerstone, he held the
position of Managing Director, Healthcare Sector, at two investment
banking firms: Jefferies and Company, Inc. and Bear Stearns &
Co., Inc., where he was involved in a wide variety of financial
transactions, including IPOs, debt offerings and acquisitions.
Preceding that, Mr. Price was Director of Mergers and Integration
Practice at PricewaterhouseCoopers where he played an advisory role
in the merger of SmithKline Beecham and Glaxo Wellcome, the Bass
Hotels and Resorts acquisition of InterContinental Hotels and the
BT merger with AT&T to form Concert. He also served in
the audit practices of Price Waterhouse and Arthur Andersen. Mr.
Price attained an Honours degree in Accounting and Financial
Management at Lancaster
University.
"We are delighted to have David join us as our Chief Financial
Officer at an exciting and demanding time in the growth of EDGAR
Online. As an executive officer of the Company he will take on a
pivotal role, focusing on our financial performance as we expand
and extend our XBRL offerings globally," said EDGAR Online
President and CEO Philip Moyer.
"David brings significant merger and acquisition experience to
EDGAR Online which will help facilitate our proposed merger with
UBmatrix, and his financial, compliance, and strategic experience
will help us scale our business to take advantage of the growth
opportunities we see. I have every confidence that his skills will
accelerate our progress and add enormous value to our senior
management team."
The Company and Mr. Price entered into an employment agreement
on June 25, 2010, to be effective as
of his joining the Company on July 6,
2010. Mr. Price's compensation and other employment
terms, including a non-solicitation and non-compete covenant, are
set forth in the employment agreement. Also set forth in the
employment agreement are the terms of a grant of 675,000 restricted
shares of the Company's common stock on July
6, 2010, as an inducement to Mr. Price to join the Company.
The restricted shares will vest in equal installments on the first
three anniversaries of such date.
About EDGAR® Online, Inc.
EDGAR Online, Inc. (www.edgar-online.com) (Nasdaq: EDGR) is a
leader in the distribution of company data and public filings for
equities, mutual funds and a variety of other publicly traded
assets. The Company delivers its information products via online
subscriptions and data licenses directly to end-users, embedded in
other web sites and through a variety of redistributors. EDGAR
Online has also developed proprietary automated systems that allow
for the rapid conversion of data and is a pioneer and leader in
XBRL. The Company uses its automated processing platform and its
expertise in XBRL to produce both datasets and tools and to assist
organizations with the creation, management and distribution of
XBRL financial reports.
Use of Forward-Looking Statements
This press release may contain "forward-looking statements" as
defined in the U.S. Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this press release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in EDGAR Online's filings with the SEC. EDGAR Online
disclaims any obligation to update or revise any forward-looking
statements.
EDGAR® is a federally registered trademark of the U.S.
Securities and Exchange Commission. EDGAR Online is not affiliated
with or approved by the U.S. Securities and Exchange
Commission.
SOURCE EDGAR Online, Inc.