An investigation for current long-term investors in shares of American Software, Inc. (NASDAQ:AMSWA) over potential wrongdoing by certain officers and directors of American Software was announced and current long-term NASDAQ:AMSWA stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 08/13/2013 -- An investigation on behalf of current long-term stockholders of shares of American Software, Inc. (NASDAQ:AMSWA) was announced concerning whether certain American Software officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of American Software, Inc. (NASDAQ:AMSWA) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain American Software officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s 2011 Equity Compensation Plan.
In the Proxy Statement filed by American Software, Inc. with the Securities and Exchange Commission the Board of Directors recommends that American Software’s shareholders vote to approve an amendment to the Company’s 2011 Equity Compensation Plan to increase the number of shares available for issuance thereunder from 2,500,000 to 3,700,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:AMSWA common stock.
American Software, Inc. reported that its Total Revenue declined from $102.64 million for the 12 months period that ended on April 30, 2012 to $100.47 million for the 12 months period that ended on April 30, 2013 and that its respective Net Income declined from $11.34 million to $10.41 million.
Shares of American Software, Inc. (NASDAQ:AMSWA) declined from $9.70 per share in early 2012 to as low as $7.40 per share in late 2012.
On August 12, 2013, NASDAQ:AMSWA shares closed at $8.22 per share.
Those who purchased shares of American Software, Inc. (NASDAQ:AMSWA) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com