Vivus, activist investor claim support in proxy battle

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Vivus, activist investor claim support in proxy battle

(Reuters) - Obesity drugmaker Vivus Inc and its top investor, which has been seeking a shakeup of the company's board, both claimed support from proxy advisory firms ahead of a shareholder vote later this month. Vivus said Glass Lewis rejected First Manhattan's slate of directors, while the investor said Institutional Shareholder Services (ISS) backed three of its nine nominees. Vivus shares were down 2 percent at $12.07 in afternoon trading on the Nasdaq. First Manhattan's main point of criticism has been the foundering sales of Vivus's diet drug Qsymia. ...

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