Washington, DC, December 12, 2005 — Liquidity Services, Inc., a leading online auction marketplace for wholesale, surplus and salvage assets, is pleased to announce the appointment of James E. Williams to its executive management team as vice president, general counsel and corporate secretary. Mr. Williams brings LSI twelve years of experience in technology-related corporate law and legal planning.
In this role, Mr. Williams will be responsible for managing the company’s legal, regulatory and corporate compliance activities, including SEC matters, corporate governance, intellectual property, and commercial contract activities. In addition, he will provide legal guidance to LSI’s senior management team, the Board of Directors and Board committees, and will supervise and manage the company’s relationship with outside counsel.
“James has extensive experience in both technology and corporate law and has played an active role in support of public and private financings, acquisitions, human resources administration and legal compliance during his career,” said Bill Angrick, Chairman and CEO of LSI. “His background and experience will be a key advantage in helping LSI meet its corporate objectives and comply with government and industry regulations.”
Prior to joining LSI, Mr. Williams served as general counsel for Acterna in Germantown, Maryland, one of the world’s largest providers of telecommunications test solutions, where he directed Acterna’s overall legal strategy. He played a key role in the execution of the company’s financial reporting preparation and compliance, and directed legal planning around the divestitures of non-core business assets.
Mr. Williams also previously served as assistant general counsel for PathNet Telecommunications in Reston, Virginia and as a corporate associate at law firms Kirkland & Ellis in Washington, DC and Wilson Sonsini, Goodrich & Rosati in Palo Alto, California. In addition, he served as a vice president with Hamilton Securities Capital Markets, a private equity firm.
Mr. Williams holds a Bachelor of Arts degree in legal history from Brown University, where he graduated with honors. He received his Juris Doctor from the University of Chicago Law School.
About Liquidity Services, Inc.
Liquidity Services, Inc. and its subsidiaries enable government agencies, businesses and financial institutions to market and sell surplus assets and wholesale goods quickly and conveniently using innovative online auction marketplaces, business-to-business product sales and marketing expertise, and value-added logistics and fulfillment services. The privately held company is based in Washington, D.C. and employs 285 people. Additional information can be found at: www.liquidityservicesinc.com.