An investigation for current long-term investors in shares of Vitesse Semiconductor (NASDAQ:VTSS) over potential wrongdoing by certain officers and directors of Vitesse Semiconductor was announced and current long-term NASDAQ:VTSS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 01/23/2013 --An investigation on behalf of current long-term stockholders of shares Vitesse Semiconductor (NASDAQ:VTSS) was announced concerning whether certain Vitesse Semiconductor officers and directors possibly breached their fiduciary duties in connection with certain statements.

Investors who are current long-term stockholder of shares of Vitesse Semiconductor (NASDAQ:VTSS), 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 Vitesse Semiconductor officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the Vitesse Semiconductor’s 2013 Incentive Plan.

In the Proxy Statement filed by Vitesse Semiconductor with the Securities and Exchange Commission the Board of Directors recommends that Vitesse Semiconductor’s shareholders vote to approve the Vitesse Semiconductor Corporation 2013 Incentive Plan. The 2013 Incentive Plan authorizes the issuance of 6,700,000 shares of Vitesse Semiconductor’s Common Stock.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Vitesse Semiconductor (NASDAQ:VTSS common stock.

Vitesse Semiconductor (NASDAQ:VTSS) reported that its Total Revenue declined from $165.63 million for the 12 months period that ended on Sept. 30, 2010 to $119.48 million for the 12 months period that ended on Sept. 30, 2012.

Shares of Vitesse Semiconductor (NASDAQ:VTSS) declined from as high as $5.17 per share in April 2011 to as low as $1.76 per share in December 2012.

NASDAQ:VTSS shares closed on Jan. 22, 2013 at $2.29 per share.

Those who purchased shares of Vitesse Semiconductor (NASDAQ:VTSS), 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