Forest Derivative Appeal Halted As Sides Seek Deal

Law360, New York (June 30, 2009, 12:00 AM EDT) -- A federal appeals court has agreed to a further suspension in the appeal of a shareholder derivative suit alleging that certain Forest Laboratories Inc. executives misled shareholders about the company's main products, blockbuster antidepressant drugs Celexa and Lexapro, because the two sides are currently discussing “partial resolution” of the case.

The U.S. Court of Appeals for the Second Circuit signed off on the extended suspension of the case, brought by Forest shareholders Jeff Michelson and Eleanor Turberg, on Friday.

Forest Labs prevailed in the original derivative...
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