An investigation for current long-term investors in shares of Dolby Laboratories, Inc. (NYSE:DLB) over potential wrongdoing by certain officers and directors of Dolby Laboratories, Inc. was announced and current long-term NYSE:DLB stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 01/09/2013 -- An investigation on behalf of current long-term stockholders of shares of Dolby Laboratories, Inc. (NYSE:DLB) was announced concerning whether certain Dolby Laboratories officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Dolby Laboratories, Inc. (NYSE:DLB) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Dolby Laboratories officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for the amendment and restatement of the Dolby Laboratories’ 2005 Stock Plan.
In the Proxy Statement filed by Dolby Laboratories, Inc with the Securities and Exchange Commission (“SEC”) the Board of Directors recommends that Dolby Laboratories’ shareholders vote to approve the amendment and restatement of Dolby Laboratories’ 2005 Stock Plan to reserve an additional 8,000,000 shares of Class A Common Stock for issuance thereunder. Dolby Laboratories’ Board of Directors also recommends that shareholders vote for a proposal to amend and restate Dolby Laboratories’ Employee Stock Purchase Plan to reserve an additional 3,000,000 shares of Class A Common Stock for purchase thereunder.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Dolby Laboratories, Inc. (NYSE:DLB) common stock.
Dolby Laboratories, Inc. (NYSE:DLB) reported that its Total Revenue declined from $955.50 million for the 52 weeks period that ended on Sept. 30, 2011 to $926.26 million for the 52 weeks period that ended on Sept. 28, 2012 and that its Net Income for the respective time periods decreased from $309.27 million to $264.30 million.
Shares of Dolby Laboratories, Inc. (NYSE:DLB) declined from as high as $44.11 per share in May 2012 to as low as $28.98 per share in late Dec. 2012.
On January 8, 2013, NYSE:DLB shares closed at $29.67 per share.
Those who purchased shares of Dolby Laboratories, Inc. (NYSE:DLB), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com