Perma-Fix (PESI) Says COO Lied On His Resume

Perma-Fix Environmental Services (Nasdaq: PESI) said Chief Operating Officer Larry McNamara misrepresented academic credentials that the company reported in corporate filings.

"McNamara had incorrectly advised and represented to the company that he was a graduate of the University of Iowa,” Perma-Fix said in a filing with the SEC released after the close of regular trading today. "McNamara is not a college graduate.:

"They’ve endangered their ability to maintain this security clearance and it potentially hurts shareholders because the guy had no formal degrees in a field where it appears he should," said Barry Minkow, founder of the San Diego-based Fraud Discovery Institute.

Perma-Fix treats and stores low-level radioactive and hazardous waste for companies and government agencies including the Defense Department and the Energy Department.

Perma-Fix spokesman David Waldman said the company is aware only of the error in the SEC filings and not of any involving McNamara’s representations for a security clearance.

Perma-Fix is up $0.09 or 3.90% in today's trading to $2.40.

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