Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of ICT Group Inc. - ICTG

• Press Release
• Source: Levi & Korsinsky
• On 11:18 am EDT, Monday October 12, 2009

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of ICT Group Inc. (“ICTG” or the “Company”) (NasdaqGM: ICTG - News) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Sykes Enterprises Inc. (NasdaqGS: SYKE - News) ("Sykes"). Under the terms of the agreement, ICTG shareholders will receive $7.69 in cash and $7.69 in Sykes stock for each share of ICTG common stock they own for a total transaction value of approximately $263 million.

Related Quotes

Symbol	Price	Change
ICTG	15.95	-0.20

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The investigation concerns whether the ICTG Board of Directors breached their fiduciary duties to ICTG shareholders given that (i) at least one analyst has set a $17.00 per share price target for ICTG stock; (ii) members of the ICTG Board will receive $15.38 in cash for each restricted stock unit they hold; (iii) John J. Brennan, Donald Brennan and Eileen Brennan Oakley, who collectively own 39 percent of ICTG stock, have agreed to vote their shares in favor of the transaction; and (iv) the Board agreed to a no-solicitation provision and a $7,500,000 termination fee that will all but ensure that no superior offer will ever be forthcoming.

If you own common stock in ICTG and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/ictg1.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.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
212-363-7500
Fax: (212) 363-7171
www.zlk.com