Faruqi & Faruqi, LLP Launches An Investigation Against Family Dollar Stores Inc. (FDO) 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 Family Dollar Stores Inc. (“Family Dollar” or the “Company”) (NYSE: FDO) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for the adoption of an Employee Stock Purchase Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 6, 2012, the Board of Directors recommends that Family Dollar's shareholders vote to approve the adoption of an Employee Stock Purchase Plan. The Board of Directors has reserved an aggregate of 1,000,000 shares of Company common stock for issuance under the Purchase Plan. The issuance of the additional shares could have a substantial dilutive effect on the shares of Family Dollar 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 Family Dollar and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/FDO 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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