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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of ICx Technologies, Inc.

^{Published on 2010-08-17 17:40:31 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of ICx Technologies, Inc. (aICxa or the aCompanya) (NASDAQ:ICXT) related to the Companya™s agreement to be acquired by FLIR Systems, Inc. (aFLIRa). The proposed transaction is valued at approximately $274 million.

Under the terms of the definitive merger agreement entered into by the parties, FLIR will acquire ICx through a cash tender offer for a price of $7.55 per share in cash, followed by a merger with a subsidiary of FLIR. Certain affiliates of Wexford Capital LP have agreed to tender approximately 62% of ICxa™s outstanding shares in the tender offer. Completion of the transaction is expected to occur in the fourth quarter of 2010. The Companya™s stock traded above $9.00 per share in January 2010 and as high as $8.02 as recently as July 28, 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by the ICx board of directors.

If you own shares of ICx, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].