The Briscoe Law Firm, PLLC & Powers Taylor, LLP Announce the Investigation of Possible Breaches of Fiduciary Duties Concernin...

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of ICx Technologies, Inc. (“ICXT” or “Company”) (NASDAQ: ICXT) related to the proposed acquisition of ICXT by FLIR Systems, Inc.

The agreement involves a cash transaction valued at approximately $274 million, under which the Company shareholders will receive $7.55 in cash for each share of ICXT common stock they hold. However, the proposed consideration represents a premium of less than 12% to the Company's closing stock price the day prior to the announcement. Further, at least one analyst has set a price target for ICx of $10.00 per share, $2.45 higher than the value of FLIR's subsidiary's offer. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of ICXT for approving this transaction, whether the consideration to be received by ICXT shareholders is fair, and whether ICXT’s board of Directors acted in the shareholders’ best interests.

If you currently own shares of ICXT and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

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