The Law Office of Vincent Wong Announces Investigation of Possible Breach of Fiduciary Duty by the Board of ICx Technologies,...
August 17 2010 - 4:35PM
Business Wire
The Law Office of Vincent Wong 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. ICXT stock traded in excess of
$8.00 per share as recently as July 28, 2010 and at least one
analyst set a price target for ICXT stock at $10.00 per share.
If you own common stock in ICXT and wish to obtain additional
information about this investigation and what is being done to
advance the shareholders’ interests, please contact Vincent Wong,
Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit http://www.wongesq.com/icxt.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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