Forest Labs (FRX) Says One of Icahn's Nominees Elected to Board
Tweet
Share
E-mailGet Alerts FRX Hot Sheet
Join SI Premium – FREE
Forest Laboratories, Inc. (NYSE: FRX) announced that, based on the estimates of its proxy solicitor, preliminary results from its Annual Meeting indicate that shareholders have elected nine of the Company’s ten director nominees. The Forest nominees who were elected are: Nesli Basgoz, M.D.; Christopher J. Coughlin; Kenneth E. Goodman; Gerald M. Lieberman; Lawrence S. Olanoff, M.D., Ph.D.; Lester B. Salans, M.D.; Brenton L. Saunders; Howard Solomon; and Peter J. Zimetbaum, M.D. The preliminary results also indicate that one of Carl Icahn’s four nominees, Pierre Legault, has been elected to Forest’s Board. Mr. Icahn, a holder of approximately 10% of Forest’s outstanding shares, also nominated Eric Ende, designated leader of the Icahn Group’s proxy fight slate, Andrew Fromkin and Daniel Ninivaggi, none of whom were elected based on preliminary results.
Based on preliminary results, shareholders have voted in favor of the other proposals submitted by the Company, including the advisory vote on executive compensation. In addition, based on preliminary results, shareholders have also rejected the “proxy access” stockholder proposal submitted by Mr. Kenneth Steiner. Prior to the Annual Meeting, Mr. Icahn withdrew his proposal to repeal any provision of the Company’s Bylaws in effect at the time of the Annual Meeting that was not included in the Bylaws as publicly filed with the Securities and Exchange Commission prior to June 18, 2012. Preliminary results as tabulated by the Company’s independent Inspector of Elections, IVS Associates, Inc., are expected to be announced by next week, and final results will be announced promptly following certification by the Inspector.
Based on preliminary results, shareholders have voted in favor of the other proposals submitted by the Company, including the advisory vote on executive compensation. In addition, based on preliminary results, shareholders have also rejected the “proxy access” stockholder proposal submitted by Mr. Kenneth Steiner. Prior to the Annual Meeting, Mr. Icahn withdrew his proposal to repeal any provision of the Company’s Bylaws in effect at the time of the Annual Meeting that was not included in the Bylaws as publicly filed with the Securities and Exchange Commission prior to June 18, 2012. Preliminary results as tabulated by the Company’s independent Inspector of Elections, IVS Associates, Inc., are expected to be announced by next week, and final results will be announced promptly following certification by the Inspector.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- enVVeno Medical (NVNO) files $100M mixed shelf
- Breeze Acquisition Corp. II gets Nasdaq notice for late 10-Q filings
- Yum! Brands adds former HanesBrands CEO to its board
Create E-mail Alert Related Categories
Corporate News, Management ChangesRelated Entities
Carl IcahnSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
