Flir Settles ICx Shareholder Suit With Extra Info

Law360, New York (February 17, 2011, 5:30 PM EST) -- Flir Systems Inc. and shareholders in ICx Technologies Inc. on Thursday asked for initial court approval of a settlement in a consolidated class action challenging Flir's completed $274 million purchase of ICx.

According to a memorandum accompanying the motion for preliminary approval filed in the U.S. District Court for the Eastern District of Virginia, ICx shareholders agreed to drop their claims in exchange for additional disclosure documents and interviews with top ICx executives prior to a tender vote on the merger.

The terms of the settlement...
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