Specialty Labs COO Beyer Resigns

Specialty Laboratories Inc. said President and Chief Operating Officer Paul Beyer resigned, less than two months after the company’s chief executive quit.

Shares of the Santa Monica-based company jumped 12%, or 79 cents, to $7.35 on the NYSE.

In April, James Peter resigned as chief executive when federal regulators said they were suspending the company’s right to Medicare and Medicaid payments, alleging that laboratory-test services had been performed by unlicensed staff. The company’s stock has fallen 36% since then.