Icahn Ditches Amylin Suit After Chat With CEO

Law360, New York (April 25, 2012, 5:07 PM EDT) -- Activist investor Carl Icahn said Wednesday that he has dropped his suit against Amylin Pharmaceuticals Inc. after a discussion with the company's CEO, ending a dispute that started over the rejection of an alleged $3.5 billion Bristol-Myers Squibb Co. takeover of Amylin.

Icahn's decision vacates a suit lodged earlier this month alleging that Amylin's board has failed to represent shareholders' interests without providing investors an adequate opportunity to nominate better representatives.

The voluntary dismissal comes less than a week after a Delaware judge on Friday agreed...
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