I think I may have found a fix. I would get this error and none of the
above solutions would work.

W: GPG error: http://packages.medibuntu.org gutsy Release: The following 
signatures couldn't be verified because the public key is not available: 
NO_PUBKEY 2EBC26B60C5A2783
W: You may want to run apt-get update to correct these problems


I opened up a text editor as root and began exploring the /etc/apt/ directory 
hoping to find the source of the problem.
Voila. 
There is a directory called "sources.list.d/" and inside was a file containing 
the medibuntu information that was stumping apt-get.
I deleted the file and all was well once again.

Hopefully this helps.
NuclearPeon of PeonDevelopments.

-- 
GPG error with apt-get (BADSIG 40976EAF437D05B5)
https://bugs.launchpad.net/bugs/24061
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