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Levi & Korsinsky, LLP Launches an Investigation into the Board of Microfluidics International Corporation

01-12-2011 02:02 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Levi & Korsinsky, LLP

Levi & Korsinsky is investigating the Board of Directors of Microfluidics International Corporation (“Microfluidics” or the “Company”) (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 (“IDEX”) (NYSE: IEX).

New York, NY, January 12, 2011 -- Levi & Korsinsky is investigating the Board of Directors of Microfluidics International Corporation (“Microfluidics” or the “Company”) (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 (“IDEX”) (NYSE: IEX). Under the terms of the transaction, Microfluidics shareholders will receive $1.35 cash per share of Micofluidics 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 Microfluidics’ 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.

Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com

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.

Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St, 15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com

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