Market Overview

Forest Laboratories Responds to False and Misleading Statements by Carl Icahn

Forest Laboratories, Inc. (NYSE: FRX) today issued the following open letter to all Forest shareholders.

Forest's Board of Directors continues to recommend that shareholders vote for all 10 of the Company's highly qualified director nominees on the WHITE proxy card. For information about Forest's 2012 Annual Meeting of Shareholders, please visit: www.FRX2012annualmeeting.com.

The text of the letter follows:

August 10, 2012

Dear Fellow Shareholders:

In the past few days, Carl Icahn has twisted the facts yet again on two important topics: the industry-standard change of control provisions contained in our licensing joint venture agreements and the actions that Forest has taken to fulfill its commitments to shareholders on corporate governance. We regret that Mr. Icahn is making these false and misleading statements less than a week before our annual meeting in an egregious and desperate attempt to manipulate the results of the election, and we are compelled to set the record straight. Here are the facts.

Posted-In: News Management

 

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