Faruqi & Faruqi, LLP Launches An Investigation Against Entercom Communications Corp (ETM) 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 Entercom Communications Corp. (“Entercom” or the “Company”) (NYSE: ETM) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of an amendment and restatement of the Entercom Equity Compensation Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on March 7, 2014, , the Board of Directors recommends that Entercom’s shareholders vote to approve the issuance of 10,300,000 shares of the Class A Common Stock under the amendment and restatement of the Entercom Equity Compensation Plan. The issuance of these shares could have a substantial dilutive effect on the shares of Entercom common stock.
If you own common stock in Entercom and wish to obtain additional information and protect your investments free of charge, please 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.