Faruqi & Faruqi, LLP Launches An Investigation Against Prospect Global Resources, Inc. (PGRX) 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 Prospect Global Resources, Inc. (“Prospect Global Resources” or the “Company”) (NasdaqCM: PGRX) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s Director and Consultant Equity Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on August 1, 2013, the Board of Directors recommends that Prospect Global Resources’ shareholders vote to approve an amendment to the Company’s Director and Consultant Equity Plan to increase the number of shares available for issuance under both this Plan and the Company’s Employee Equity Incentive Plan from 8,200,000 and 13,500,000 respectively to a total of 96,700,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Prospect Global Resources common stock.
If you own common stock in Prospect Global Resources 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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Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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