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FEDERAL JUDGE ISSUES TEMPORARY RESTRAINING ORDER AGAINST CALIFORNIA STOCKBROKER ATTEMPTING TO SEIZE CONTROL OF ICN PHARMACEUTICALS

 NEWPORT BEACH, Calif., April 12 /PRNewswire/ -- A federal judge in New York today issued a temporary restraining order (TRO) forbidding further action by the California stockbroker who, ICN Pharmaceuticals Inc. (NYSE: ICN) alleges, conspired to seize control of ICN.
 In his written order, the Hon. John Sprizzo of U.S. District Court for the Southern District of New York, said, "It is hereby ordered that defendant Rafi Khan is temporarily enjoined and restrained from soliciting proxies and/or consents, and from taking any action in connection with the Consent Statement filed by him with the Securities and Exchange Commission on April 1, 1993 ... "
 Last Monday, ICN filed suit against the stockbroker, Khan, charging him with violation of securities laws, breaching his fiduciary responsibilities, and making illegal use of inside information in hatching a conspiracy to replace the company's management and board of directors with himself and a slate of his own choosing. Khan has filed with the SEC seeking permission to solicit stockholder approval of his plan -- a plan now frozen by Sprizzo's ruling.
 -0- 4/12/93
 /CONTACT: Arnold I. Burns, 212-969-3000, for ICN Pharmaceuticals/
 (ICN)


CO: ICN Pharmaceuticals Inc. ST: California IN: MTC SU:

KJ-LS -- LA038 -- 4907 04/12/93 16:41 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
Words:205
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