Bio-Reference Labs gets restitution from former VP

Bio-Reference Laboratories (BRLI; Elmwood Park, New Jersey) executed a restitution agreement with John Littleton, a former VP in sales. Pursuant to the agreement, Littleton agreed to pay the company $1.6 million for payments made to Littleton and others that were, from the company's perspective, improperly paid to Littleton or parties related to him as expense or fee reimbursements relating to a) recruiting fees for new hires paid to parties with an undisclosed relationship to Littleton in violation of the company's policies and b) reimbursement to Littleton and others of improperly or insufficiently documented expenses, also in violation of the company's policies.

Company management said it regards this as an internal matter that has had no effect on its clients or business. The amounts in question were not material to BRLI's financial condition or operations in the years in question. It has been determined that no restatement of the company's financial statements for prior years is required.

BRLI is primarily a clinical testing lab servicing physician offices with concentrations in the focused markets of esoteric testing, molecular diagnostic, anatomical pathology and correctional healthcare.

MedClean Technologies name change official

MedClean Technologies (Bethel, Connecticut), a provider of technology and services for the onsite treatment and disposal of regulated medical waste, said that it has received notification from the Nasdaq stock market that Nasdaq has received the necessary documentation to process the company's request for a name change from Aduromed Industries to MedClean Technologies. The company will begin trading under the new stock symbol, MCLN, on the OTC Bulletin Board.