An investigation for current long-term investors in shares of Synergetics USA Inc (NASDAQ:SURG) over potential wrongdoing by certain officers and directors of Synergetics U was announced and current long-term NASDAQ:SURG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 11/20/2013 -- An investigation on behalf of current long-term stockholders of shares of Synergetics USA Inc (NASDAQ:SURG) was announced concerning whether certain Synergetics officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Synergetics USA Inc (NASDAQ:SURG) 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 Synergetics officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the Second Amended and Restated Synergetics USA, Inc. 2001 Stock and Performance Incentive Plan.
In the Proxy Statement filed by Synergetics with the Securities and Exchange Commission the Board of Directors recommends that Synergetics’ shareholders vote to approve the Second Amended and Restated Synergetics USA, Inc. 2001 Stock and Performance Incentive Plan to increase the number of shares available for issuance thereunder from 1,345,000 to 2,000,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Synergetics USA Inc.
Synergetics USA Inc reported that its Total Revenue declined from $60.01 million for the 12 months period that ended on July 31, 2012 to $62.80 million for the 12months period that ended on July 31, 2013 and that its respective Net Income declined from $5.59 million to $2.56 million
Shares of Synergetics USA Inc (NASDAQ:SURG) declined from $6.83 per share in early 2012 to as low as $3.00 per share in May 2013.
On November 19, 2013, NASDAQ:SURG shares closed at $4.00 per share.
Those who purchased shares of Synergetics USA Inc 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