IsZo Urges Taro To Withdraw Recommendation For Re-Election Of External Directors

(RTTNews) - IsZo Capital Management LP, one of the largest minority shareholders of Taro Pharmaceutical Industries Ltd. (TARO), announced that it sent a letter to the Board of Directors of Taro urging the Board to withdraw its recommendation with respect to the re-election of the current Taro External Directors whose terms will expire at the end of this year and instead support the two independent nominees proposed by BlueMountain Capital Management, LLC for election at the 2013 Annual Shareholder Meeting to serve for a 3-year term.

IsZo Capital said it does not believe that the Incumbents should be rewarded with re-election for another 3-year term after they have proven their lack of independence.

IsZo Capital noted that it intends to vote "AGAINST" the Incumbents and "FOR" the Independent Nominees and would urge its fellow Taro minority shareholder to do the same.