mail@shareholdersfoundation.com
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Dec. 5, 2012 - (NASDAQ:ARAY)
was announced concerning whether certain Accuray officers and directors possibly breached their fiduciary duties in connection with their conduct in seeking shareholders’
approval of executive compensation and an amendment to the Company’s Certificate of Incorporation.
Investors who are current long-term stockholder of shares of Accuray Incorporated (NASDAQ:ARAY)
, 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 Accuray's officers and directors potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’
approval of executive compensation and an amendment to the Company’s Certificate of Incorporation. Specifically, in the Proxy Statement filed by the Company on October 19, 2012, shareholders of Accuray are asked to approve an amendment to the Company’s Certificate of Incorporation to increase the number of total authorized shares from 105,000,000 to 205,000,000 and the number of authorized shares of common stock from 100,000,000 to 200,000,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Accuray common stock.
Accuray Incorporated (NASDAQ:ARAY)
reported that its Total Revenue rose from $219.09 million for the 52 weeks period that ended on June 30, 2011 to $407.15 million for the 52 weeks period that ended on June 30, 2012. However, its Net Loss for the respective time periods increased from $26.68 million to $72.04 million.
Shares of Accuray Incorporated (NASDAQ:ARAY)
traded in early 2011 as high as over $10 per share and fell in the end of 2011 to as low as $3.60 per share.
On November 2, 2012, NASDAQ:ARAY shares closed at $6.92 per share.
Those who purchased shares of Accuray Incorporated (NASDAQ:ARAY)
, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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http://www.prlog.org/12036846/1
