Faruqi & Faruqi, LLP Launches An Investigation Of Sonic Foundry, Inc. (SOFO) 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 Sonic Foundry, Inc.
NEW YORK, Jan. 31, 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 Sonic Foundry, Inc. ("Sonic" or the "Company") (NasdaqCM: SOFO) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for the 2009 Stock Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on January 28, 2014, the Board of Directors recommends that Sonic's shareholders vote to approve the issuance of shares of the common stock from 1,000,000 to 1,800,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Sonic common stock.
Request more information now by clicking here: www.faruqilaw.com/SOFO. There is no cost or obligation to you.
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. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Sonic and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SOFO or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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
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SOURCE Faruqi & Faruqi, LLP
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