ARTICLE | Company News

Icahn sues Amylin

April 10, 2012 1:08 AM UTC

Activist shareholder Carl Icahn filed suit in the Delaware Court of Chancery against Amylin Pharmaceuticals Inc. (NASDAQ:AMLN) seeking to reopen the window for shareholders to nominate directors and submit proposals for the company's May 15 annual meeting. Icahn filed suit after Amylin's board ignored his demand last week to reopen the window. He said shareholders should have another opportunity to make nominations because the deadline to nominate directors had passed before rumors surfaced of the takeover bid from Bristol-Myers Squibb Co. (NYSE:BMY) for $22 per share. Amylin said in a statement it believes the suit is without merit (see BioCentury, April 9). ...