Icahn Sues Forest Labs Over CEO Defense

Law360, New York (June 28, 2011, 4:20 PM EDT) -- Activist investor Carl Icahn sued Forest Laboratories Inc. in Delaware on Tuesday to force the drugmaker to reveal why the federal government, having already taken the company to task for its off-label marketing practices, now wants its CEO to step down.

Five Icahn entities demanded that Forest open up its books and explain why the company's board continues to blindly back longtime CEO Howard Solomon even though the government has threatened to stop doing business with the company unless he is removed.

Forest paid more than...
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