Faruqi & Faruqi, LLP Launches An Investigation Against Virtual Piggy, Inc. (VPIG) 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 Virtual Piggy, Inc. (“Virtual Piggy” or the “Company”) (OTC BB: VPIG) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the Company’s 2013 Equity Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 8, 2013, the Board of Directors recommends that Virtual Piggy’s shareholders vote to approve the Company’s 2013 Equity Incentive Plan to increase the number of shares available for issuance thereunder by 5,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Virtual Piggy common stock.
If you own common stock in Virtual Piggy and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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