Litigation

Alcon Starts Lawsuit Trust, Focuses On Novartis

From Associated Press (July 8, 2010)

NEW YORK -- Alcon Inc.’s Independent Director Committee said Thursday it created a litigation trust with $50 million for litigation related to any deal between Alcon and a majority shareholder, with a focus on Novartis.

The trust was formed to provide funds to commence, defend or maintain a lawsuit. Novartis currently owns about 23 percent of Alcon and is trying to buy the company. It has offered up to $39 billion for Alcon.

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