NEW YORK--(BUSINESS WIRE)--Forest Laboratories, Inc. (NYSE: FRX) (“Forest”) today responded to an Icahn Group press release regarding the recent report issued by leading proxy advisory service Institutional Shareholder Services (ISS): “Contrary to the impression Carl Icahn seeks to create in his press release, ISS today recommended that shareholders vote on the Company’s WHITE card to elect all ten Forest directors at its upcoming Annual Meeting of Shareholders. Icahn has self-servingly picked isolated statements from the ISS report in a transparent effort to mislead Forest shareholders as to the true conclusion of ISS. ISS thoroughly reviewed Forest’s performance metrics, management of patent cliff challenges, and board nominees and concluded that Icahn ‘has not demonstrated a compelling case that change at the board level is needed’. ISS’s conclusion is clear: shareholders should vote the WHITE proxy card in support of all ten Forest nominees.”
