Faruqi & Faruqi, LLP Launches An Investigation Against Cardica, Inc. (CRDC) 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 Cardica, Inc. (“Cardica” or the “Company”) (NasdaqGM: CRDC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment of the Company’s 2005 Equity Incentive Plan.
Specifically, in the Preliminary Proxy Statement filed by the Company with the Securities and Exchange Commission on September 27, 2013, the Board of Directors recommends that Cardica’s shareholders vote to approve an amendment to the Company’s 2005 Equity Incentive Plan to increase the number of shares available for issuance thereunder from 5,400,000 to 6,400,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Cardica common stock.
If you own common stock in Cardica 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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