Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Globecomm Systems Inc. (“Globecomm” or the “Company”) (NasdaqGS: GCOM) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of executive compensation and an amendment to the Company’s Stock Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 5, 2012, the Board of Directors recommends that Globalcomm’s shareholders vote to approve an amendment to the Company’s 2006 Stock Incentive Plan (the “2006 Plan”) to increase the number of shares that may be issued under the 2006 Plan by an additional 1,500,000 shares. The issuance of the additional shares could have a severe dilutive effect on the shares of Globalcomm’s common stock.
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