Forest Labs Derivative Suit Belongs In Federal Court: Atty

Law360, New York (January 25, 2012, 3:32 PM EST) -- A Forest Laboratories Inc. attorney told a New York state judge on Tuesday that a shareholder derivative lawsuit over federal regulators' aborted attempt to force out the company's CEO and a proxy fight with Carl Icahn belongs with another suit in federal court.

"There isn't any reason in the world to have both of these lawsuits continue," William Savitt of Wachtell Lipton Rosen & Katz, who represents the company, told Judge Shirley Werner Kornreich during a hearing Tuesday.

Other lawsuits that were filed first and consolidated...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Israni v. Solomon et al


Case Number

1:11-cv-04805

Court

New York Southern

Nature of Suit

Stockholders Suits

Judge

Laura Taylor Swain

Date Filed

July 13, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.