Faruqi & Faruqi, LLP Launches An Investigation Against Owens-Illinois, Inc. (OI) 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 Owens-Illinois, Inc. (“Owens” or the “Company”) (NYSE: OI) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of the second amendment and restatement of the Company's 2005 Incentive Award Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on March 31, 2014, the Board of Directors recommends that Owens’s shareholders vote to approve the second amendment and restatement of the 2005 Incentive Award Plan to increases the number of shares available under the plan by 6,000,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Owens common stock.
If you own common stock in Owens 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.