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Elan
Elan granted injunction against board members
Pharmaceutical company wants to block ‘parallel investigation’.
PHARMACEUTICAL COMPANY ELAN has been granted an injunction by the High Court, preventing two US-based board members from investigating its corporate governance.
The two men, Jack Schuler and Vaughn Bryson, had made complaints against Elan employees at a company audit meeting in May, after which Elan launched an independent investigation.
The results of the Elan inquiry are expected before the board on 15 September.
The company objected to the board members’ parallel investigation, saying the men had no authority to launch an investigation on behalf of Elan.
The court granted the interim injunction on the basis that the men had engaged lawyers at Elan’s expense without the authority to do so.
The case has been adjourned for a week.
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