Rigrodsky & Long, P.A. Investigates Sale of Icagen, Inc. to Pfizer, Inc. for its Shareholders

  • Do you own Icagen, Inc. common stock?
  • Did you purchase your shares prior to July 20, 2011?
  • Do you feel the Company's sale to Pfizer, Inc is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

Contact R & L today to be sure your best interests are being protected.

R & L is a national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of Icagen, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Pfizer, Inc. in a transaction valued at approximately $56 million.

Click here to read the full press release.

Rigrodsky & Long, P.A. Investigates Sale of Icagen, Inc. to Pfizer, Inc. for its Shareholders

Rigrodsky & Long, P.A. announces that it is 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 entry into an agreement to be acquired by Pfizer, Inc. (“Pfizer”) in a transaction valued at approximately $56 million.

Under the proposed agreement, Icagen shareholders will receive $6.00 per share in cash for every share of Icagen common stock they hold.  Pfizer already owns approximately 11% of Icagen’s fully diluted shares.

The investigation concerns whether Icagen’s board of directors adequately shopped the Company to obtain the best price possible for Icagen’s shareholders before entering into the agreement with the Pfizer.  Indeed, the $6.00 per share contemplated by the transaction is nearly a 23% discount to Icagen’s closing stock price of $7.75 on July 19, 2011, the last day before the announcement of the transaction.  Moreover, according to Yahoo! Finance, at least one analyst has set a price target of $8.00 per share for Icagen stock.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

Learn more about R&L:  Visit Our Website |  Our Firm  |  Our Practice Areas  |  FAQ's

Fill out the form below or call us toll-free at 888-969-4242, for a FREE no-obligation consultation.