Synovics shareholder wants change in board composition

By Lisa Kerner

Charlotte, N.C., Feb. 23 - A group of Synovics Pharmaceuticals, Inc. shareholders led by NalinKant Amratlal Rathod is seeking to change the composition of the company's board of directors.

Rathod beneficially owns 2,376,393 shares, or 8.4%, of Synovics' outstanding shares, according to a schedule 13D filing with the Securities and Exchange Commission.

In the filing, the reporting persons said they are considering "whether to nominate an alternative slate of directors in connection with the company's next election of directors" or otherwise request a change in the board or current management.

Rathod may offer to become a director of the Phoenix-based specialty pharmaceutical company.

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