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.
If you enjoy the content at iBankCoin, please follow us on Twitter
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?