In a letter to Solomon, Icahn said the company’s long-time CEO had sold more than $500 million worth of Forest stock several years ago “at prices substantially higher than today’s price.”
“Those sales now look to me like a savvy bet against the prospects of a company that was not prepared to meet the calamitous events that would befall it several years in the future when Lexapro went off patent,” Icahn said.
2 Responses to Icahn Wants Not 1 or 2 or 3, but 4 Seats on $FRX Board
Come. Give uncle Icahn his due.
Isn’t selling the company (seems like he is always leveraging for buyouts, not longterm business investments), just throwing in the towel on a business rather than an actual achievement?