Faruqi & Faruqi, LLP Launches An Investigation Against MDC Holdings Inc. (MDC) 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 MDC Holdings Inc. (“MDC” or the “Company”) (NYSE: MDC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for executive compensation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on February 6, 2013, the Board of Directors recommends that MDC's shareholders vote to approve an amendment to the MDC 2011 Equity Incentive Plan, authorizing 1,600,000 shares of Common Stock to be available for issuance. The proxy also recommends that shareholders approve an advisory vote on executive compensation. The issuance of the additional shares could have a substantial dilutive effect on the shares of MDC 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 MDC and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/MDC 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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