San Diego, CA -- (SBWire) -- 07/16/2013 --An investigation on behalf of current long-term stockholders of shares of Digital Power Corporation (NYSEMKT:DPW) was announced concerning whether certain Digital Power officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Digital Power Corporation (NYSEMKT:DPW) 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 Digital Power officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s 2012 Stock Option Plan.
In the Proxy Statement filed by Digital Power Corporation with the Securities and Exchange Commission the Board of Directors recommends that Digital Power’s shareholders vote to approve an amendment to the Company’s 2012 Stock Option Plan to increase the number of shares available for issuance from 410,145 to 1,372,630.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NYSEMKT:DPW common stock.
Digital Power Corporation reported that its annual Total Revenue declined from $11.23 million in 2011 to $8.59 million in 2012 and that its Net Income of $1.12 million in 2011 decreased to a Net Loss of $0.33 million in 2012.
Shares of Digital Power Corporation (NYSEMKT:DPW) declined from $2.03 per share in March 2012 to as low as $0.54 per share in May 2013.
On July 15, 2013, NYSEMKT:DPW shares closed at $0.61 per share.
Those who purchased shares of Digital Power Corporation (NYSEMKT:DPW) 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
Digital Power Corporation (NYSEMKT:DPW) Long Term Investor Investigation over Potential Wrongdoing
An investigation for current long-term investors in shares of Digital Power Corporation (NYSEMKT:DPW) over potential wrongdoing by certain officers and directors of Digital Power Corporation was announced and current long-term NYSEMKT:DPW stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com