Faruqi & Faruqi, LLP Launches An Investigation of CLARCOR Inc. For Potential Breaches of Fiduciary Duties by Its Board of Directors Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of CLARCOR Inc.
NEW YORK, Feb. 20, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of CLARCOR Inc. ("CLARCOR" or the "Company") (NYSE: CLC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the 2014 CLARCOR Inc. Incentive Plan (the "Plan").
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on February 20, 2014 the Board of Directors recommends that CLARCOR's shareholders vote to approve the Plan for the issuance of 6,000,000 shares to be granted thereunder. The issuance of these shares could have a substantial dilutive effect on the shares of CLARCOR common stock.
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If you own common stock in CLARCOR and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CLC 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.
Faruqi & Faruqi, LLP
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Attn: Juan E. Monteverde, Esq.
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Phone: (212) 983-9330
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