Forest Laboratories, Inc. (FRX: Quote) on Friday commented on the Delaware Court of Chancery's decision to deny Carl Icahn's demands for access to certain books and records of the company.
"We believe Mr. Icahn is engaging in an overly broad fishing expedition in an attempt to further this year's proxy contest after his overwhelming defeat at last year's annual meeting. Weeks ago, we offered to provide Mr. Icahn with more documents than we believed he was entitled to under Delaware law, but regrettably he opted to pursue litigation. We are pleased with the Court's decision denying Mr. Icahn the right to receive most of the remaining documents he sought. Forest will comply with the Court's ruling, which essentially gives Mr. Icahn the documents we had previously offered him," Forest Labs said in a statement.
Click here to receive FREE breaking news email alerts for Forest Laboratories Inc and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com