Submitted by FoxFirstatTen on August 15th
By By The Associated Press
SHAREHOLDERS SAY: Forest Laboratories Inc. said Wednesday shareholders have elected one of four candidates nominated by Carl Icahn to the drugmaker's board of directors in a proxy contest. They chose Icahn nominee Pierre Legault and nine candidates backed by the New York drugmaker, according to preliminary results.
ABOUT ICAHN: The billionaire investor is Forest's second-largest shareholder, with a stake totaling more than 26 million shares, according to FactSet.
THE BACKGROUND: Icahn has sharply criticized the company over its direction and corporate governance, among other matters. He also nominated four directors last year, but shareholders rejected them.
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