Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MannKind Corp. (“Mannkind” or the “Company”) (NasdaqGM: MNKD) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on November 16, 2012, the Board of Directors recommends that Mannkind’s shareholders vote to approve an amendment to MannKind Corporation’s Amended and Restated Certificate of Incorporation to increase the authorized number of shares of common stock from 350,000,000 shares to 550,000,000 shares. The issuance of the additional shares could have a severe dilutive effect on the shares of Mannkind’s common stock.
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