Science & Technology
Science and Technology
Science and Technology
Wed, January 12, 2011
Tue, January 11, 2011
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Microf
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Microfluidics International Corporation (aMicrofluidicsa or the aCompanya) (OTC: MFLU) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a subsidiary of IDEX Corporation (aIDEXa) (NYSE: IEX). Under the terms of the transaction, Microfluidics shareholders will receive $1.35 cash per share of Microfluidics stock they own.
The investigation concerns whether the Microfluidics Board of Directors breached their fiduciary duties to Microfluidics stockholders by failing to adequately shop the Company before entering into this transaction and whether IDEX is underpaying for Microfluidics shares, thus unlawfully harming Microfluidics stockholders. In addition, Irwin Gruverman, the founder and a major shareholder of Microfluidics, as well as each of Microfluidicsa™ directors and executive officers, have agreed to tender their shares in the offer; these stockholders own shares representing approximately 16% of the outstanding shares of Microfluidics at December 31, 2010.
If you own common stock in Microfluidics and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/microfluidics-mflu.html ].
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
