An investigation for current long-term investors in shares of Concur Technologies, Inc. (NASDAQ:CNQR) over potential wrongdoing by certain officers and directors of Concur Technologies, Inc. was announced and current long-term NASDAQ:CNQR stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 02/05/2013 -- An investigation on behalf of current long-term stockholders of shares Concur Technologies, Inc. (NASDAQ:CNQR) was announced concerning whether certain Concur Technologies officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Concur Technologies, Inc. (NASDAQ:CNQR), 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 Concur Technologies officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the Company's Amended and Restated 2007 Equity Incentive Plan.
In the Proxy Statement filed by Concur Technologies, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Concur Technologies' shareholders vote to approve an amendment and restatement to the Company's 2007 Equity Incentive Plan so as to increase the authorized number of shares of common stock available for issuance thereunder by 4,600,000 shares. The proxy also recommends that shareholders approve an advisory vote on the compensation of executive compensation.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:CNQR common stock.
$349.49 million for the 12 months period that ended on Sept. 30, 2011 to $439.83 million for the 12 months period that ended on Sept. 30, 2012 and that its Net Loss for the respective time periods decreased from $10.74 million to $7.01million.
Shares of Concur Technologies, Inc. (NASDAQ:CNQR) grew from as low as $34.50 per share in August 2011 to as high as $75.63 per share in September 2012.
On Feb. 4, 2013, NASDAQ:CNQR shares closed at $66.65 per share.
Those who purchased shares of Concur Technologies, Inc. (NASDAQ:CNQR), 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