Case Details for " Icagen, Inc"

Investigation of Icagen, Inc.

Layers are investigating potential claims against the board of directors of Icagen, Inc. ("Icagen" or the "Company") (NASDAQ: ICGN) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell Icagen to Pfizer Inc. in a transaction valued at approximately $56 million.

The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Icagen.

Under the terms of the definitive agreement, Icagen's shareholders will receive $6 in cash for each share of common stock they own.

Posted on:07/21/2011
Company: Icagen, Inc
Affected Class: Shareholders of Icagen, Inc
Scope: Nationwide

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