Avanir Shareholders Can't Halt Proxy Vote

Law360, Los Angeles (February 12, 2014, 9:36 PM EST) -- A California federal judge on Wednesday allowed Avanir Pharmaceuticals Inc.'s shareholder vote on issues like executive pay to proceed despite the objections of a putative class of investors claiming that its proxy notice was misleading, ruling all the information required for an informed vote was in the notice. 

U.S. District Judge Cormac J. Carney denied the plaintiffs' motion for a preliminary injunction to stop the vote, which included a proposal to issue 17 million shares to be used for equity-based compensation. Avanir had claimed it was...
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