Faruqi & Faruqi, LLP Launches An Investigation Against Actuant Corporation (ATU) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Actuant Corporation ("Actuant" or the "Company") (NYS: ATU) 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.
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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 Actuant and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ATU or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
KEYWORDS: United States North America New York
The article Faruqi & Faruqi, LLP Launches An Investigation Against Actuant Corporation (ATU) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors originally appeared on Fool.com.
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