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...
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