Forest Labs Defeats Icahn In Proxy Fight

Law360, New York (August 18, 2011, 3:14 PM EDT) -- Forest Laboratories Inc. announced Thursday that it had fended off activist investor Carl Icahn's bid to replace four members of its board of directors in a sometimes bitter proxy fight.

The New York-based biopharmaceutical company said that shareholders had elected its entire slate of 10 directors at the company's annual meeting, rejecting Icahn's bid to place four members on the board.

Forest Chairman and CEO Howard Solomon praised the company's employees and touted the company's growth in a statement celebrating the win.

“We would also like...
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