- Amarin Corp. ( NASDAQ: AMRN ) on Wednesday said it will announce the date of a special meeting of shareholders "in due course" after its largest shareholder on Tuesday demanded the ousting of the board chairman and adding representatives it backs.
- Sarissa Capital Management has been pressuring the company and board to make changes since 2021 amid disappointing financial results.
- Amarin ( AMRN ) said that the proxy battle would be costly and not in shareholders' best interests.
- "We believe this contest will create significant disruption and cause considerable harm to the Company’s efforts in driving positive pricing and reimbursement decisions in Europe, continued stabilization of the U.S. business and its international strategy and is detrimental to the Company’s future," Amarin ( AMRN ) said in a news release .
- The company also referred to its Q4 and full-year 2022 preliminary results as evidence it is making progress .
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Amarin says it will announce special meeting after largest shareholder demands one