Faruqi & Faruqi, LLP Launches An Investigation Against Transcat, Inc. (TRNS) 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 Transcat, Inc. (“Transcat” or the “Company”) (NasdaqGM: TRNS) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s 2003 Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on July 26, 2013, the Board of Directors recommends that Transcat’s shareholders vote to approve an amendment to the Company’s 2003 Incentive Plan to increase the number of shares available for issuance thereunder from 1,900,000 to 3,400,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Transcat common stock.
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If you own common stock in Transcat 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.
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Faruqi & Faruqi, LLP
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Tel: (212) 983-9330
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