Faruqi & Faruqi, LLP Announces the Investigation of Orchids Paper Products Company (TIS) 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 Orchids Paper Products Company (“Orchids” or the “Company”) (NYSE MKT: TIS) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval the Company’s 2014 Stock Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on March 5, 2014, the Board of Directors recommends that Orchids’ shareholders vote to approve a grant to approve the Company’s 2014 Stock Incentive Plan which would allocate 400,000 shares of Company Stock for issuance thereunder – and would be separate from the 400,000 shares allocated under the Schoen Option for the Company’s President and Chief Executive Officer. The issuance of the additional shares could have a substantial dilutive effect on the shares of Orchids common stock.
If you own common stock in Orchids 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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