Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Accuray Incorporated (“Accuray” or the “Company”) (NasdaqGS: ARAY) 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 Certificate of Incorporation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 19, 2012, the Board of Directors recommends that Accuray shareholders vote to approve an amendment to the Company’s Certificate of Incorporation to increase the number of total authorized shares from 105,000,000 to 205,000,000 and the number of authorized shares of common stock from 100,000,000 to 200,000,000. The issuance of the additional shares could have a severe dilutive effect on the shares of Accuray common stock.
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