NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Vitesse Semiconductor Corporation (“Vitesse Semiconductor” or the “Company”) (NasdaqGM: VTSS) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the Company’s 2013 Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on January 15, 2013, the Board of Directors recommends that Vitesse Semiconductor’s shareholders vote to approve the Vitesse Semiconductor Corporation 2013 Incentive Plan. The 2013 Incentive Plan authorizes the issuance of 6,700,000 shares of the Company’s Common Stock. The issuance of the additional shares could have a substantial dilutive effect on the shares of Vitesse Semiconductor’s common stock.
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If you own common stock in Vitesse Semiconductor and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/VTSS or 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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