Icagen ICGN Inc Shareholder Lawsuit

Kyros Law a Boston-based law firm is investigating claims of breaches of fiduciary duties by certain members of the Board of Directors of Icagen, Inc. (NASDAQ:ICGN) in relation to the acquisition of the Icagen by Pfizer, Inc.

Icagen and Pfizer have entered into an agreement announced on 20 July 2011. Under the terms of the deal Pfizer, which currently owns about 11% of Icagen’s fully diluted shares, will acquire Icagen’s remaining 8.3 million shares for $6.00 per share, a transaction valued at $56 million.

Our law firms's investigation is trying to determine whether certain members of Icagen’s Board of Directors breached their fiduciary duties to Icagen shareholders in connection with their efforts to sell Icagen to Pfizer at an unfair low price which significantly undervalues the ICGN shares. The $6.00 per ICGN share offer price is a 23% discount to Icagen’s closing stock price of $7.75 per share on July 19, 2011, the day before the proposed acquisition was announced!!!

If you are a shareholder of any amount of Icagen please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights.

Merger Lawsuits: In these types of cases even small shareholders may bring claims against officers and directors of a company for violation of fiduciary duties related to these large corporate transactions. The goals of taking legal action are to increase the deal price, require public disclosure of important facts related to the transaction (which helps investors decide whether to approve the deal), improve the actual terms of the deal, and to ensure fairness to all shareholders.

Kyros Law is a Boston-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.