NEW YORK--(EON: Enhanced Online News)--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.
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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Cardica and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CRDC or 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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