Update 4:30pm : Adds Amarin response.
- Amarin Corp. ( NASDAQ: AMRN ) rose 2.1% after activist Sarissa Capital said it has started the process for calling a special meeting to replace some board members.
- "We hope that this process will ultimately be unnecessary and that the board will act swiftly to appoint our representatives to the board," Sarissa said in a statement. "However, given how reactive and drawn out the board process has been to date, we have little optimism that the board will now act with necessary and sufficient urgency."
- Amarin ( AMRN ) said that its board is in the "final stages" of appointing new independent directors.
- "Throughout the Board’s consideration of these candidates, including Sarissa’s proposed nominees, we have kept Sarissa apprised of the Board’s refreshment process," Amarin said in a statement . "This process remains ongoing."
- Sarissa Capital is Amarin's ( AMRN ) largest holder with a ~6% stake. Activist investor Sarissa, led by Alex Denner, which at one time worked for Carl Icahn, announced in early June that it planned to seek representation on the company’s board.
For further details see:
Amarin gains as activist Sarissa starts process for special meeting to replace some board members (update)