San Diego, CA -- (SBWire) -- 11/05/2013 --An investigation on behalf of investors who purchased shares of Farmer Brothers Co. (NASDAQ:FARM) was announced concerning whether certain Farmer Brothers officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Farmer Brothers Co. (NASDAQ:FARM) 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 Farmer Brothers officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the Amended and Restated 2007 Long-Term Incentive Plan.
In the Proxy Statement filed by Farmer Brothers Co. with the Securities and Exchange Commission the Board of Directors recommends that Farmer Brothers’ shareholders vote to approve the Amended and Restated 2007 Long-Term Incentive Plan, which amends and restates the existing Farmer Brothers Co. 2007 Omnibus Plan. This would, among other things, increase the authorized number of shares issuable under the plan by up to 1,375,000 shares.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Farmer Brothers Co.
Farmer Brothers Co. reported that its Total Revenue rose from $463.94 million for the 12 months period that ended on June 30, 2011 to $509.96 million for the 12 months period that ended on June 30, 2013 and that its respective Net Loss declined from $52.03 million to $8.46 million.
Shares of Farmer Brothers Co. (NASDAQ:FARM) grew from $4.86 per share in November 2011 to as high as $18.40 on October 31, 2013.
On Nov. 4, 2013, NASDAQ:FARM closed at $18.03 per share.
Those who purchased shares of Farmer Brothers Co. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Investor Investigation of Farmer Brothers Co. (NASDAQ:FARM) of Possible Breaches of Fiduciary Duties
An investigation for current long-term investors in shares of Farmer Brothers Co. (NASDAQ:FARM) over potential wrongdoing by certain officers and directors of Farmer Brothers Co. was announced and current long-term NASDAQ:FARM stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com