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Biotechnology Business
Biovail Announces Withdrawal of Legal Action by Eugene Melnyk
April 26th, 2008
Biovail Corporation (NYSE,TSX: BVF) announced that former Chairman and Chief Executive Officer Eugene Melnyk has withdrawn an application to the Ontario Superior Court of Justice (Commercial List) naming the Company and its current interim Chairman and CEO, Dr. Douglas Squires, as respondents. Mr. Melnyk announced the filing of the application on March 20, 2008. The application sought, among other things, a declaration and orders related to Mr. Melnyk's allegation that Biovail and Dr. Squires had improperly solicited proxies for the Company's June 25, 2008 Annual Meeting on the day Biovail announced its financial results for 2007. ...
Source: Law & Health Weekly (2008-04-26)
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