Bradley Pharmaceutical Director Steps Down

Law360, New York (August 22, 2006, 12:00 AM EDT) -- Looking to avoid the “cost and burden” of a shareholder lawsuit, the director of Bradley Pharmaceuticals Inc. gave up his post, but was subsequently re-elected to the board after another director resigned.

Leonard S. Jacob stepped down Thursday as director and chairman of the board’s nominating and corporate governance committee to evade a lawsuit filed by Costa Brava Partnership III LP, which holds 9.5% in Bradley’s common stock.

Costa Brava said Tuesday that it had launched a suit in the Court of Chancery of the State...
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