Chantal Holder Asks Court to Block Meeting

A Chantal Pharmaceutical Corp. shareholder asked a court to block next week’s shareholders’ meeting in New York City and to find the firm in contempt of court. The move came one day after a dissident shareholder group sought to oust Chief Executive Chantal Burnison, new Chief Operating Officer Polly Bergen and the current board of directors. Shares of Los Angeles-based Chantal gained 50 cents to close at $1.94 on Nasdaq. Chantal was ordered by the Delaware Chancery Court on April 23 to hold an annual meeting in Los Angeles June 17. The firm, which makes the anti-wrinkle cream Ethocyn, hasn’t held an annual meeting in more than five years. On Monday, Chantal moved the meeting to New York. In a motion filed in Delaware, Lamont Asset Management, a shareholder, asked the court to block the meeting, to hold Chantal in contempt for disobeying the court’s order and to reschedule the meeting in Los Angeles. Chantal executives weren’t immediately available for comment.