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Biotechnology Business
Concerned Shareholders of Biovail seek court order declaring Biovail AGM illegally convened;
July 12th, 2008
The Concerned Shareholders of Biovail said that their lawyers will be in court today and will seek a declaration that the Biovail Corporation (NYSE:BVF) Annual General Meeting was illegally held and will request that a proper meeting be convened. This followed the Concerned Shareholder being advised early this morning that over 10% of the shares voted in favour of the incumbent slate had been revoked. "Biovail obviously heard what we were hearing," Eugene Melnyk said, "and that was that the momentum was shifting. They knew that without my shares they would not have a quorum to hold the meeting and so they secretly met early this morning to change the rules to suit their...
Source: Law & Health Weekly (2008-07-12)
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