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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): May 15, 2009

IGI LABORATORIES, INC.
(Exact name of registrant as specified in charter)

105 Lincoln Avenue
Buena, New Jersey 08310
(Address of principal executive offices)(Zip Code)

(856) 697-1441
(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously reported in the Company’s Current Report on Form 8-K filed March 19, 2009, on March 13, 2009, IGI Laboratories, Inc., a Delaware corporation (the “Company”) completed a private placement of Series B-1 Convertible Preferred Stock (the “Series B-1 Preferred Stock”), secured convertible promissory notes (the “Notes”) and warrants to purchase shares of Series B-2 Preferred Stock (the “Warrants” and together with the Series B-1 Preferred Stock and the Notes, the “Securities”) to certain investment funds affiliated with Signet Healthcare Partners, G.P. (the “Investors”), for an aggregate purchase price of $6,000,000 (the “Offering”). Upon consummation of the Offering, the board of directors of the Company (the “Board”) appointed Joyce Erony, a managing director of Signet Healthcare Partner s, G.P., to a newly created seat on the Board, as the designee of the holders of Series B-1 Preferred Stock.

On May 15, 2009, at the 2009 Annual Meeting of Stockholders of the Company (the “2009 Annual Meeting”), the holders of Series B-1 Preferred Stock re-elected Joyce Erony to serve as their designee on the Board. In addition, the stockholders of the Company re-elected each of Terrence O’Donnell, Stephen J. Morris, Rajiv Mathur and Jane E. Hager to serve on the Board until the next annual meeting of stockholders and until his or her successor has been duly appointed and qualified, or until his or her earlier resignation or removal.

As described in the press release attached hereto as Exhibit 99.1 and incorporated herein by reference, the stockholders of the Company approved the Offering at the 2009 Annual Meeting. Upon stockholder approval of the Offering, James C. Gale, a managing director of Signet Healthcare Partners, G.P., was appointed to fill a newly created seat on the Board as designee of the holders of Series B-1 Preferred Stock until the next annual meeting of stockholders and until his successor is duly appointed and qualified or until his earlier resignation or removal. As of the filing date of this Current Report on Form 8-K, Mr. Gale has not been appointed to any committees of the Board. As a non-employee director, Mr. Gale will be entitled to receive the Company’s standard non-employee director compensation as described in the Company’s 2009 proxy statement filed with the Securities and Exchange Commission on April 17, 2009.

As a managing director of Signet Healthcare Partners, G.P., Mr. Gale has an indirect interest in the Securities acquired by the Investors in the Offering. Other than such interest, there are no related party transactions between the Company and Mr. Gale required to be reported pursuant to Item 404(a) of Regulation S-K.

Item 8.01. Other Events.

On May 15, 2009, the Company issued a press release announcing the results of its Annual Meeting of Shareholders held on May 15, 2009. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	IGI, INC.

Date: May 19, 2009	By:/s/ Rajiv Mathur
	Name: Rajiv Mathur Title: President and Chief Executive Officer

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EXHIBIT INDEX


Exhibit Number	Description of Exhibit

99.1	Press Release dated May 15, 2009 Announcing Annual Stockholders Meeting Voting Results

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Exhibit 99.1

News From

[ex99_igi003.jpg]

Buena, NJ 08310

Release Date: May 15, 2009

IGI LABORATORIES, INC. ANNOUNCES ANNUAL STOCKHOLDERS MEETING VOTING RESULTS

BUENA, NEW JERSEY – May 15, 2009 -- IGI Laboratories, Inc. (NYSE AMEX: IG), a premier provider of topical formulation development, analytical, manufacturing and packaging services, today announced the results of voting at its Annual Meeting of Stockholders, held today at Buena Vista Country Club in Buena, New Jersey.

Approximately 83.9 percent of the Company’s 14.9 million shares of common stock currently outstanding and 100 percent of the Company’s Series A preferred stock and Series B-1 Convertible Preferred Stock then outstanding were represented at the meeting. The holders of the Company’s Series A Preferred Stock were entitled to an aggregate number of votes equal to 500,000 shares of the Company’s common stock. The holders of the Series B-1 Convertible Preferred Stock were entitled to an aggregate number of votes equal to approximately 2,969,000 shares of the Company’s common stock. However, as described below, the holders of the Series B-1 Convertible Preferred Stock were not entitled to vote to approve the private placement or the credit agreement conversion.

Re-Election of Board Nominated Directors

The four directors nominated by the Board of Directors, Terrence O’Donnell, Stephen J. Morris, Rajiv Mathur and Jane E. Hager, each received a majority of “For” votes of the votes cast and each was re-elected by no less than approximately 93.8 percent of the votes cast. In addition, the holders of the Company’s Series B-1 Convertible Preferred Stock re-elected Joyce Erony to serve as their designee to the Board of Directors. Immediately upon approval of the private placement, as described below, the Company appointed James C. Gale, a managing director of Signet Healthcare Partners, as an additional member of the Board of Directors.

Approval of Private Placement

The stockholders approved (i) the issuance and sale of the Company’s Series B-1 Convertible Preferred Stock and the common stock into which it converts which were issued as part of a private placement, described in greater detail in the Company’s proxy statement, that will result in the private placement investors owning approximately 49.5% of the Company’s outstanding common stock, on an as-converted basis, (ii) the change of control that may result from such issuance and the associated rights of the holders of the Series B-1 Convertible Preferred Stock, and (iii) the issuance of warrants to purchase shares of the Company’s common stock to the Company’s placement agent in the private placement.

Holders of the Company’s Series B-1 Convertible Preferred Stock were not entitled to vote to approve the private placement or the credit agreement conversion. In addition, based on verbal confirmation from the NYSE Amex, the votes of Pinnacle Mountain Partners LLC and its affiliates (including Jane Hager, a significant stockholder and a director of the Company), were not considered for purposes of approving the private placement or the credit agreement conversion. After giving effect to these voting restrictions, approximately 89.7 percent of the votes cast were “For” approval of the private placement.

As a result of the approval of the private placement, the outstanding $4,782,600 in principal amount of Secured Convertible Promissory Notes, together with accrued and unpaid interest, were converted to an aggregate of 803.979 shares of Series B-1 Preferred Stock and the Preferred Stock Purchase Warrants to purchase an aggregate of 797.1 shares of non-voting Series B-2 Preferred Stock were terminated.

Approval of Credit Agreement Conversion

The stockholders also approved the issuance of 1,219,512 shares of the Company’s common stock upon the conversion of the principal amount of the $500,000 secured line of credit agreement with Pinnacle Mountain Partners, LLC, a company owned by Dr. Edward and Jane Hager, significant stockholders of the Company, and in the case of Mrs. Hager, a director of the Company, at a conversion rate of $0.41 per share. After giving effect to the voting restrictions imposed on the holders of the Company’s Series B-1 Convertible Preferred Stock and Pinnacle Mountain Partners LLC and its affiliates (as described above), approximately 89.5 percent of the votes cast were “For” approval of the Credit Agreement Conversion.

About IGI Laboratories, Inc.

IGI Laboratories, Inc. engages in the development, manufacturing, filling, and packaging of topical, semi solid, and liquid products for pharmaceutical and cosmeceutical companies. The Company offers the patented Novasome® encapsulation technology which contributes value-added qualities to pharmaceutical and cosmeceutical products, providing improved dermal absorption and sustained release of the active molecule.

IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, including our expectation concerning compliance with NYSE Amex listing standards, and other statements contained in this press release that are not historical facts and statements identified by words such as “ will,” “possible,” “one time,” “provides an opportunity,” “continue” or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption “Risk Factors” in IGI Laboratories, Inc.’s most rec ent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.


DELAWARE	001-08568	01-0355758
(State or Other Jurisdiction of Incorporation)	(Commission file number)	(I.R.S. Employer Identification Number)


o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Exhibit Number		Description of Exhibit

99.1		Press Release dated May 15, 2009 Announcing Annual Stockholders Meeting Voting Results


Contact:	Rajiv Mathur President & Chief Executive Officer IGI Laboratories, Inc. 856-697-1441 ext. 211 www.askigi.com