An investigation for current long-term investors in shares of SHFL entertainment Inc (NASDAQ:SHFL) over potential wrongdoing by certain officers and directors of SHFL entertainment Inc was announced and current long-term NASDAQ:SHFL stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 02/27/2013 -- An investigation on behalf of current long-term stockholders of shares of SHFL entertainment Inc (NASDAQ:SHFL) was announced concerning whether certain SHFL entertainment officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of SHFL entertainment Inc (NASDAQ:SHFL), 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 SHFL entertainment Inc officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the SHFL entertainmen’’s 2012 Stock Incentive Plan.
In the Proxy Statement filed by SHFL entertainment Inc, formerly Shuffle Master, Inc., with the Securities and Exchange Commission the Board of Directors recommends that SHFL’s shareholders vote to approve the Company’s 2012 Stock Incentive Plan to issue 6,700,000 new shares. The proxy also recommends that shareholders vote to approve an advisory vote on executive compensation.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:SHFL common stock.
SHFL entertainment Inc (NASDAQ:SHFL) reported that its Total Revenue rose from $179.34 million for the 12 months period that ended on Oct. 31, 2009 to $259.05 million for the 12 months period that ended on Oct. 31, 2012, and that its Net Income for those respective time periods increased from $14.97 million to $38.61 million .
Shares of SHFL entertainment Inc (NASDAQ:SHFL) grew from as low as $2.43 per share in March 2009 to as high as $18.43 per share in April 2013.
On Feb. 26, 2013, NASDAQ:SHFL closed at $15.75 per share.
Those who purchased shares of SHFL entertainment Inc (NASDAQ:SHFL), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego