An investigation for current long-term investors in shares of Corporate Resource Services Inc (NASDAQ:CRRS) over potential wrongdoing by certain officers and directors of Corporate Resource Services was announced and current long-term NASDAQ:CRRS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 10/14/2013 -- An investigation on behalf of current long-term stockholders of shares of Corporate Resource Services Inc (NASDAQ:CRRS) was announced concerning whether certain Corporate Resource Services officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Corporate Resource Services Inc (NASDAQ:CRRS) 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 Corporate Resource Services officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the Company's 2013 Equity Incentive Plan.
In the Proxy Statement filed by Corporate Resource Services Inc with the Securities and Exchange Commission Board of Directors recommends that Corporate Resource's shareholders vote to approve the Company's 2013 Equity Incentive Plan to increase the number of shares available for issuance thereunder by 5,000,000 shares.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Corporate Resource Services Inc
Corporate Resource Services Inc reported that its Total Revenue increased from $538.94 million for the 12 months period that ended on Sept. 30, 2011 to $639.79 million for the 12 months period that ended on Sept. 28, 2012, while its Net Income of $0.11 million for the 12 months period that ended on Sept. 30, 2011 declined to a Net Loss of $3.37 million for the 12 months period that ended on Sept. 28, 2012.
Shares of Corporate Resource Services Inc (NASDAQ:CRRS) grew from $0.351 in late December 2012 to as high as $5.00 per share in September 2013.
On Oct.119, 2013, NASDAQ:CRRS shares closed at $3.19 per share.
Those who purchased shares of Corporate Resource Services 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