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Healthcare staffing company TeamStaff Inc. (NASD: TSTF) said it received a letter of reprimand from Nasdaq. One member of the company's nominating and corporate governance committee was not considered an independent director under Nasdaq rules because he was previously employed by the company in the last three years. Nasdaq rules require that all nominees for director be recommended by committees made up only of independent directors.
TeamStaff said the violation was inadvertent and it took action to correct the situation. The board member is no longer on the committee said President, CEO and CFO Rick Filippelli. No further action by the company is necessary.