An investigation for current long-term investors in shares of Cache, Inc. (NASDAQ:CACH) over potential wrongdoing by certain officers and directors of Cache was announced and current long-term NASDAQ:CACH stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 08/06/2013 -- An investigation on behalf of current long-term stockholders of shares of Cache, Inc. (NASDAQ:CACH) was announced concerning whether certain Cache officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Cache, Inc. (NASDAQ:CACH) 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 Cache officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment of the Company’s 2013 Stock Incentive Plan.
In the Proxy Statement filed by Cache, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Cache’s shareholders vote to approve an amendment to the Company’s 2013 Stock Incentive Plan to increase the number of shares available for issuance from 65,693 to 1,065,693.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:CACH common stock.
Cache, Inc. reported that its Total Revenue increased from $223.88 million for the 52 weeks period that ended on Dec. 31, 2011 to $224.21 million for the 52 weeks period that ended on Dec. 29, 2012. However, its Net Income of $2.08 million for the 52 weeks period that ended on Dec. 31, 2011 declined to a Net Loss of $12.08 million for the 52 weeks period that ended on Dec. 29, 2012.
Shares of Cache, Inc. (NASDAQ:CACH) declined from $7.38 per share in March 2012 to $2.01 per share in December 2012.
On August 5, 2013, NASDAQ:CACH shares closed at $4.50 per share.
Those who purchased shares of Cache, Inc. (NASDAQ:CACH) 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