leadership
confidence high
sentiment negative
materiality 0.75
Virpax Chairman resigns citing policy disputes; auditor EisnerAmper resigns
Virpax Pharmaceuticals, Inc.
- Chairman Eric Floyd resigned Sept 20, 2024, disagreeing with salary cuts and elimination of D&O insurance.
- Floyd warned D&O elimination could expose directors/officers to personal liability and hurt retention.
- EisnerAmper resigned as auditor Sept 20, 2024; no accounting disagreements were reported.
- New auditor Bush & Associated CPA LLC engaged Sept 24, 2024, approved by Audit Committee and Board.
- EisnerAmper's prior audit reports included a going-concern explanatory paragraph for FY2022 and FY2023.