Faruqi & Faruqi, LLP Launches An Investigation of Advaxis, Inc. For Potential Breaches of Fiduciary Duties by Its Board of Directors
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Advaxis, Inc. (“Advaxis” or the “Company”) (NasdaqCM: ADXS) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the 2011 Omnibus Incentive Plan (the “Plan”).
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on February 28, 2014 the Board of Directors recommends that Advaxis shareholders vote to approve an amendment to the Plan to increase the aggregate number of shares of common stock reserved for issuance under the plan by 2,000,000 shares. The issuance of these shares could have a substantial dilutive effect on the shares of Advaxis common stock.
If you own common stock in Advaxis and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ADXS or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.