Andrews & Springer LLC filed a stockholder derivative complaint on behalf of nominal defendant, Intrexon Corporation (“Intrexon” or the "Company") against Intrexon’s board of directors (the “Board”) in the Circuit Court of Fairfax County, Virginia. Intrexon is a synthetic biology company that designs, builds, and regulates gene programs.

The complaint alleges that Intrexon’s Board breached their fiduciary duties by allowing the Company to enter into a grossly unfair and illusory Services Agreement with Third Security LLC ("Third Security"), a private investment company run by Randall Kirk ("Kirk"), Intrexon's controlling stockholder. As the controlling stockholder of the Company and owner of 100% of the equity in Third Security, Kirk stood on both sides of the transaction requiring the Board to ensure that the Services Agreement was entirely fair to the Company. Instead the Board approved a Services Agreement that disproportionately enriches Third Security and Kirk at the expense of Intrexon and its stockholders.

Please click here for a copy of the Verified Shareholder Derivative Complaint.