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Faruqi & Faruqi, LLP Launches Investigation Against Actuant Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors


Tuesday, 4 Dec 2012 03:24pm EST 

Faruqi & Faruqi, LLP, national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of Actuant Corp (Actuant or the Company) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the Company's Omnibus Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 3, 2012, the Board of Directors recommends that Actuant's shareholders vote to approve an amendment to the Company's 2009 Omnibus Incentive Plan to, among other things, increase the number of shares of Class A common stock issuable under the plan by an additional 4,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Actuant common stock. 

Company Quote

30.32
0.57 +1.92%
23 Oct 2014