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Death Puts NTS Out of Compliance

The death of a board member for engineering and test services firm National Technical Systems Inc. has led NASDAQ to notify the company of noncompliance with independent director requirements. The Nov. 29 death of Ralph Clements resulted in the vacancy of an independent member on the Calabasas-based NTS board. NASDAQ rules require that a majority of independent directors service on the board. The company has until its next annual shareholders meeting to fill the vacancy. NTS has started a search for an new independent director and expects to be in compliance with NASDAQ as soon as possible, board Vice Chairman Donald Tringali said.

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