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Shareholder being advised early this morning that over 10% of the shares voted in favour of the incumbent slate had been revoked.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:6/20/2017)... ... June 20, 2017 , ... National ... well-versed leader with extensive assay development and biomarker expertise, as VP of Scientific ... Boston CRO specializing in bio-analytical assay development and sample testing services. The organization ...
(Date:6/20/2017)... San Francisco, CA (PRWEB) , ... June 20, ... ... with patented technology for discovery of antibody therapeutics from millions-diverse immune repertoires, announces ... International Conference in San Diego, California. Dave Johnson, PhD, CEO of GigaGen, will ...
(Date:6/19/2017)... ... 19, 2017 , ... EDETEK, Inc., a clinical technology company ... launching two new additions of its award-winning cloud-based platform CONFORM™: Information Hub and ... 2017 Annual Meeting in Chicago, IL, June 19-22, 2017. , “Modern clinical trials ...
(Date:6/19/2017)... Ames, Iowa (PRWEB) , ... June 19, 2017 , ... ... and interplay among its cells and tissues by delivering pollen and nectar containing nutrients ... and the means to stay healthy. , Many recent indicators point to a decline ...
Breaking Biology Technology:
(Date:5/16/2017)... May 16, 2017   Bridge Patient Portal ... and MD EMR Systems , an electronic ... for GE, have established a partnership to build ... and the GE Centricity™ products, including Centricity Practice ... These new integrations will allow healthcare ...
(Date:4/18/2017)... , April 18, 2017  Socionext Inc., a global expert in ... media edge server, the M820, which features the company,s hybrid codec ... provided by Tera Probe, Inc., will be showcased during the upcoming ... NAB show at the Las Vegas Convention ... Click ...
(Date:4/11/2017)... BEACH GARDENS, Fla. , April 11, 2017 ... identity management and secure authentication solutions, today announced ... contract by Intelligence Advanced Research Projects Activity (IARPA) ... for IARPA,s Thor program. "Innovation has ... onset and IARPA,s Thor program will allow us ...
Breaking Biology News(10 mins):