WEST PALM BEACH, FL (www.HedgeCo.Net) – Carl Icahn has filed a law suit against Perry Hedge Fund Company in connection with takeover battles for Mylan Laboratories. Icahn is seeking $1 billionagainst Perry Hedge fund for alleged meddling in the takeover attempt of Mylan Laboratories. According to the suit, Perry Hedge Fund was allegedly accused of manipulating shares during the takeoverattempt.
According to published reports, financier Icahn�s attempts to takeover Mylan Laboratories were an effort to �thwart the drug maker’s proposed purchase of King Pharmaceuticals Inc.� Perry Hedge Fund owns about ten percent of Mylan Laboratories, and Perry also supports the Mylan Laboratories proposed acquisition of King Pharmaceuticals.
The suit further charges that Perry Hedge fund was trying to impact the shareholder votes through the manipulation of shares, in an effort to profit from the targeted takeover companies through the use of complex trading techniques.
The filing papers further charged that �”The conspiracy and conduct complained of in this complaint are classic examples of the kinds of manipulative arrangements that arbitrageurs and hedge funds are increasingly employing, outside of the public’s awareness and without effective regulation or oversight, to generate profits at the expense of ordinary shareholders.�
Icahn has hired the services of a high profile attorney, David Boies who was a special council to the US Department of Justice during the battle against Microsoft Corporation. Representatives of Perry Hedge Fund Company were not immediately available for comment.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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