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Emulex Corporation (NYSE:ELX) Long Term Investor Alert: Investigation over potential Wrongdoing

An investigation for current long-term investors in shares of Emulex Corporation (NYSE:ELX) was continues and current long-term NYSE:ELX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog - Nov. 13, 2012 - SAN DIEGO -- An investigation on behalf of current long-term stockholders of shares of Emulex Corporation (NYSE:ELX) was announced concerning whether certain Emulex officers and directors possibly breached their fiduciary duties in connection with certain statements.

Investors who are current long-term stockholder of shares of Emulex Corporation (NYSE:ELX), including those who current hold NYSE:ELX shares since years, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Emulex officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval of executive compensation and an amendment to Emulex’s Equity Incentive Plan.

in the Proxy Statement filed by Emulex Corporation with the SEC, the Board of Directors recommends that Emulex’s shareholders vote to approve an amendment to Emulex’ 2005 Equity Incentive Plan to increase the number of shares that may be issued under Emulex’ 2005 Equity Incentive Plan by an additional 1,500,000 shares.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Emulex Corporation common stock.

Emulex Corporation (NYSE:ELX) reported that its Total Revenue rose from $399.15 million for the 52 week period that ended on June 27, 2010 to $501.77 million for the 52 week period that ended on July 1, 2012. While Emulex Corporation (NYSE:ELX) was able to lower its Net Loss from $83.61 million for the 52 weeks period that ended on July 3, 2011 to $11.08 million for the 52 weeks period that ended on July 1, 2012, its shares declined from as high as $140.4 per share in March 2010 to as low as $6.22 per share in July 2012.

Those who purchased shares of Emulex Corporation (NYSE:ELX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
City/Town:San Diego - California - United States
Industry:Business, Fashion
Tags:emulex corporation, nyse elx
Shortcut:prlog.org/12021805
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