WASHINGTON (dpa-AFX) - Board of Forest Laboratories Inc. (FRX), in a communique, has recommended stockholders to vote for all 10 of its highly qualified director nominees on the WHITE proxy card on the company annual meeting on August 15, 2012.
In its letter, Forest Laboratories noted, 'Carl Icahn is again attempting to replace four of your directors with four of his own hand-picked representatives. We believe his nominees are far less qualified than your current directors and would bring no additional relevant experience that would help build value for you. In fact, we believe they would work to promote an agenda that could destroy the value potential of Forest's next generation of products.'
The letter underscores Forest's proven track record of successfully developing and launching new drugs and details why Carl Icahn's vague ideas for improving the company are illogical and flawed.
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