The Law Office of Abe Shainberg Announces the Initiation of an Investigation into the Possible Breaches of Fiduciary Duty by ...

The Law Office of Abe Shainberg is investigating the board of directors of ICx Technologies, Inc. (Nasdaq: ICXT) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to FLIR Systems Inc. (Nasdaq: FLIR) for $7.55 in cash per share for a total transaction value of approximately $274 million.

The investigation concerns whether the ICXT Board breached their fiduciary duties to ICXT stockholders by failing to adequately shop the Company before entering into this transaction and whether FLIR is underpaying for ICXT shares, thus unlawfully harming ICXT stockholders. ICXT stock traded in excess of $8.00 per share as recently as July 28, 2010 and the mean target price for ICXT stock set by analysts is $9.00 per share with at least one analyst setting a price target of $10.00 per share. Furthermore, on August 19, 2010, ICXT stock closed at $7.64 per share.

If you own common stock in ICXT and wish to obtain additional information, please contact Abe Shainberg, Esq. directly, via email at as@ashainberglaw.com, by telephone at 212.425.7268, or visit http://www.ashainberglaw.com/icx-technologies.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.

Icx Technology (MM) (NASDAQ:ICXT)
Historical Stock Chart
From May 2024 to Jun 2024