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Stada says legal complaint was filed against shareholder votes
September 29, 2016 / 9:31 AM / a year ago

Stada says legal complaint was filed against shareholder votes

FRANKFURT, Sept 29 (Reuters) - German generic drugmaker Stada said a legal complaint had been lodged against shareholder votes at its Aug. 27 annual general meeting (AGM) which led to a reshuffle of its non-executive board.

A Stada spokesman said, however, that the company had not yet received the complaint and declined to comment on who had filed it.

At Stada’s AGM, activist investor Active Ownership Capital succeeded in convincing shareholders to remove the German drugmaker’s chairman, but failed to install its candidate in the post.

It said at the time it would legally challenge some decisions taken at the AGM.

Active Ownership was not immediately available for comment. (Reporting by Patricia Weiss; Writing by Ludwig Burger; Editing by Victoria Bryan)

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