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Palatin Technologies Inc. (PTN)

(NYSE MKT: PTN)

Summary

Faruqi & Faruqi, LLP Launches An Investigation Against Palatin Technologies Inc. (PTN) 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 Palatin Technologies Inc. (“Palatin” or the “Company”) (NYSE MKT: PTN) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an increase in the common stock available for issuance under the 2011 Stock Incentive Plan.

Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on May 15, 2013, the Board of Directors recommends that Palatin’s shareholders vote to approve an amendment to increase the common stock available for issuance under the Company’s 2011 Stock Incentive Plan from 3,500,000 to 7,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Palatin common stock.

If you own common stock in Palatin and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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    Palatin Technologies Inc. (PTN)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 06/04/2013

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