Judge Orders New Biovail Shareholder Meeting

Law360, New York (July 16, 2008, 12:00 AM EDT) -- In the battle over the composition of the board of directors of Canadian pharmaceutical company Biovail Corp., a judge has sided with former CEO and founder Eugene Melnyk by refusing to approve the board election held at a shareholder meeting in June.

In the decision filed Tuesday in the Ontario Superior Court of Justice, Judge H.J. Wilton-Siegel denied the application brought by Toronto-based Biovail and its CEO William Wells for an order validating the June 25 election, ruling that the meeting was improperly constituted and must...
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