The State-Boston Retirement System of Massachusetts says the $6.5 billion merger of Eli Lilly and ImClone is the result of a "hopelessly flawed" process and the pension plan wants it stopped. A number of individual investors joined with the pension group to file a lawsuit aimed at halting the merger until stockholders get more information on it. And they take direct aim at Carl Icahn (photo), the chairman of ImClone, for allegedly breaching his fiduciary responsibilities to investors.

The lawsuit was revealed in regulatory filings and both of the companies say that it is without merit.

- read the story in the San Diego Union-Tribune

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