An investigation for current long-term investors in shares of Pulse Electronics Corp (NYSE:PULS) over potential wrongdoing by certain officers and directors of Pulse Electronics Corp was announced and current NYSE:PULS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 01/09/2013 -- An investigation on behalf of current long-term stockholders of shares of Pulse Electronics Corp (NYSE:PULS) was announced concerning whether certain Pulse Electronics officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Pulse Electronics Corp (NYSE:PULS) 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 Pulse Electronics officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the amendment and restatement of the Company’s Articles of Incorporation.
In the Proxy Statement filed by Pulse Electronics Corp with the Securities and Exchange Commission (“SEC”) the Board of Directors recommends that Pulse Electronics’ shareholders vote to approve an amendment to approve the adoption of Amended and Restated Articles of Incorporation.
The amendment would increase the number of Pulse Electronics’ authorized shares of common stock from 175,000,000 shares to 275,000,000 shares, authorize 1,000 shares of preferred stock and authorize the Board of Directors to create one or more series of Preferred Stock.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Pulse Electronics Corp (NYSE:PULS) common stock.
Pulse Electronics Corp (NYSE:PULS) reported that its annual Revenue fell from $432.28 million in 2010 to $369.28 million in 2011 and its respective Net Loss increased from $38.40 million to $53.39 million.
Shares of Pulse Electronics Corp (NYSE:PULS) declined from as high as $6.34 per share in March 2011 to as low as $0.275 per share in late December 2012.
On Jan. 8, 2013, NYSE:PULS shares closed at $0.38 per share.
Those who purchased shares of Pulse Electronics Corp (NYSE:PULS), 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