Faruqi & Faruqi, LLP Launches An Investigation Against Symmetricom Inc. (SYMM) For Potential Breache
Faruqi & Faruqi, LLP Launches An Investigation Against Symmetricom Inc. (SYMM) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors In The Manner It Seeks Executive Compensation Approval
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Symmetricom Inc. ("Symmetricom" or the "Company") (NAS: SYMM) for potential breaches of fiduciary duties in connection with their conduct of seeking shareholders' approval of executive compensation and an amendment to the Company's Incentive Award Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on September 26, 2012, the Board of Directors recommends that the shareholders vote for the approval of the amendment to the Company's 2006 Incentive Award Plan to authorize issuance of an additional 2,000,000 shares of common stock. The issuance of the additional shares could have a severe dilutive effect on the shares of Symmetricom's common stock.
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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Symmetricom and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SYMM or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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