Investors who are current long-term stockholders of shares of Abaxis Inc (NASDAQ:ABAX)
The plaintiff claims that the Abaxis 2005 Equity Incentive Plan limited the number to 500,000 shares, while defendants issued more than two million restricted stock units to certain company employees. The plaintiff alleges that Abaxis Inc has sustained millions of dollars in damages while certain defendants and other employees collected millions of dollars in unlawful proceeds “as a result of ultra vires grants of hundreds of thousands of Restricted Stock Units”.
The plaintiff claims that the proxy issued for the shareholder meeting scheduled for October 24, 2012 is allegedly misleading and seeks to halt the shareholder meeting until the board of directors corrects it.
Abaxis Inc (NASDAQ:ABAX)
The compensation of certain top officials at Abaxis Inc increased between its FY 2010 to 2012. For instance, the President, CEO and Chairman of the Board’s total pay rose from over $1.81 million in the FY 2010 to over $2.3 million in the FY 2012 and the CFO’s compensation increased from over $939,000 in the FY 2010 to over $1.12 million in the FY 2012.
Shares of Abaxis Inc (NASDAQ:ABAX)
Those who are current long-term stockholders of Abaxis Inc (NASDAQ:ABAX)