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Shareholder being advised early this morning that over 10% of the shares voted in favour of the incumbent slate had been revoked.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:4/21/2017)... ... April 21, 2017 , ... The 2017 Colorado ... with over 30 nominees and well as the first-year award for 2017 Manufacturing ... the event was hosted by CompanyWeek and Manufacturers Edge, among other sponsors. ...
(Date:4/21/2017)... , ... April 21, 2017 , ... ... Webster Bank, today announced first round funding to three startups through the UConn ... financial support to new business startups affiliated with UConn. , The UConn Innovation ...
(Date:4/21/2017)... Muncie, IN (PRWEB) , ... April 21, 2017 , ... ... year to 11 high school graduates from across the nation. The scholarships are created ... of AMA member dues. , Scholarship criteria are set by the AMA Scholarship Committee, ...
(Date:4/21/2017)... ... April 21, 2017 , ... Frederick ... a range of emerging technology-based businesses, recently earned a $77,518 grant from the ... , Founded in 2004, FITCI is Frederick’s first incubator. A non-profit corporation, FITCI ...
Breaking Biology Technology:
(Date:4/18/2017)...  Socionext Inc., a global expert in SoC-based imaging and computing ... M820, which features the company,s hybrid codec technology. A demonstration utilizing ... Inc., will be showcased during the upcoming Medtec Japan at Tokyo ... Las Vegas Convention Center April 24-27. ... Click here for an image ...
(Date:4/11/2017)... Apr. 11, 2017 Research and Markets has ... report to their offering. ... The global eye tracking market to grow at a CAGR of ... Eye Tracking Market 2017-2021, has been prepared based on an in-depth ... market landscape and its growth prospects over the coming years. The ...
(Date:4/5/2017)... -- Today HYPR Corp. , leading innovator in ... the HYPR platform is officially FIDO® Certified . ... that empowers biometric authentication across Fortune 500 enterprises and ... 15 million users across the financial services industry, however ... suites and physical access represent a growing portion of ...
Breaking Biology News(10 mins):