Icahn Sues Mylan Over Bylaw Changes

Billionaire investor Carl Icahn has filed a lawsuit against generic drugmaker Mylan Laboratories and its directors in a Pennsylvania court, challenging Mylan's recent bylaw amendments that require any director nominations be completed within the next week. The lawsuit is the latest development in the Mylan-King Pharmaceuticals merger saga. Mylan shareholder Carl Icahn has opposed the company's proposed $3.8 billion acquisition of King Pharmaceuticals from the start, throwing his own $5.3 billion bid for Mylan into the ring. In the meantime, Mylan has been second-guessing the King transaction following that firm's disclosure that it would have to restate some prior financial results.

Forbes (http://www.forbes.com/associatedpress/feeds/ap/2005/02/22/ap1842689.html)