An investigation for current long-term investors in shares of UniTek Global Services Inc. (NASDAQ:UNTK) over potential wrongdoing by certain officers and directors of UniTek Global Services was announced and current long-term NASDAQ:UNTK stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 11/19/2013 -- An investigation on behalf of current long-term stockholders of shares of UniTek Global Services Inc. (NASDAQ:UNTK) was announced concerning whether certain UniTek Global Services officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of UniTek Global Services Inc. (NASDAQ:UNTK) 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 UniTek Global Services Inc. officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the 2013 Omnibus Equity Compensation Plan.
In the Proxy Statement filed by UniTek Global Services Inc. with the Securities and Exchange Commission the Board of Directors recommends that UniTek's shareholders vote to approve the issuance of 2,500,000 shares of the common stock, plus the number of outstanding grants and shares available under the Company's 2009 Omnibus Securities Plan.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of UniTek Global Services Inc.
UniTek Global Services Inc. (NASDAQ:UNTK) reported that its annual Total Revenue rose from $351.46 million in 2011 to $437.60 million in 2012 and that its respective Net Loss increased from $9.13 million to $77.73 million.
Shares of UniTek Global Services Inc. (NASDAQ:UNTK) declined from over $10 in 2011 to as low as $1.09 per share in October 2013.
On November 15, 2013, NASDAQ:UNTK shares closed at $1.25 per share
Those who purchased shares of UniTek Global Services Inc. (NASDAQ:UNTK) 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