Navigation Links
Concerned Shareholders of Biovail seek court order declaring Biovail AGM illegally convened;
Date:6/25/2008

Say Biovail seeing tide changing against management - with six million votes revoked - and no quoroum at meeting, secretly met to change rules

TORONTO, June 25 /PRNewswire/ - The Concerned Shareholders of Biovail (TSE:BVF) 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Shareholder being advised early this morning that over 10% of the shares voted in favour of the incumbent slate had been revoked.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 purposes in violation of applicable law and a negotiated protocol that had been agreed to between the parties, thereby preventing Biovail shareholders from reconsidering their position."

"We think this says a lot about corporate governance at Biovail - or the lack thereof -- their desperation to keep their jobs and their willingness to change any rule to suit their needs when under pressure. We are optimistic the Court will agree that the AGM was illegally held and that a new meeting needs to be held," he said.


'/>"/>
SOURCE Concerned Shareholders of Biovail
Copyright©2008 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. Biovail Concerned Shareholders Want Open Debate
2. Biovail Concerned Shareholders Welcome Glass Lewis Evaluation
3. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
4. Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction
5. Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") Notices Posted to Shareholders
6. Rosetta Genomics Announces Annual General Meeting of Shareholders to be Held on September 24, 2007
7. Pharmos Issues Letter to Shareholders
8. Cell Therapeutics, Inc. (CTI) Announces 2007 Annual Shareholders Meeting Results
9. YM BIOSCIENCES NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND NOMINATION OF DIRECTORS
10. YM Biosciences announces adoption of renewed Shareholders Rights Plan
11. Isolagen, Inc. Reports Results of Shareholders Annual Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... BOSTON and LONDON , February ... see leading bio tech replace paper and ... The web-based electronic laboratory notebook (ELN) will be rolled out ... replace paper-based research and development (R&D) and protect valuable IP. ... time and follow a specific researcher or experiment as part ...
(Date:2/8/2016)... Pa. , Feb. 8, 2016 Should ... standard bone cement products to prevent infection after standard ... that the experts at ECRI Institute have been fielding ... Infection or Fighting Your Bottom Line?" ... Your Bottom Line?" --> While ...
(Date:2/8/2016)... 8, 2016  BioElectronics Corporation (OTC Pink: BIEL), ... today that it is responding to a notice ... Securities and Exchange Commission posted on the agency ... of the Board of BioElectronics Corporation and the ... at The Fuqua School of Business, Duke University.   ...
(Date:2/8/2016)... Stockton has an active R&D program for the ... area, the Group has a unique research and development center ... in developing Bio Control products. Stockton ... parameters and regulatory guidelines, and is active in more than ... Stockton,s flagship product Timorex Gold ...
Breaking Biology Technology:
(Date:2/5/2016)... , Feb. 5, 2016 ... of the "Global Facial Recognition Market ... --> http://www.researchandmarkets.com/research/5kvw8m/global_facial ) has announced the ... Market 2016-2020" report to their offering. ... http://www.researchandmarkets.com/research/5kvw8m/global_facial ) has announced the addition of ...
(Date:2/3/2016)... DUBLIN , Feb. 3, 2016 /PRNewswire/ ... announced the addition of the "Emotion ... NLP, Machine Learning, and Others), Software Tools ... Application Areas, End Users,and Regions - Global ... offering. --> http://www.researchandmarkets.com/research/d8zjcd/emotion_detection ) ...
(Date:2/2/2016)... , Feb. 2, 2016   Parabon NanoLabs ... the U.S. Army Research Office and the Defense ... and sensitivity of the company,s Snapshot Kinship ... Mission and, more generally, defense-related DNA forensics.  Although ... capabilities (predicting appearance and ancestry from DNA evidence), ...
Breaking Biology News(10 mins):