Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of PriceSmart Inc. (“PriceSmart” or the “Company”) (NasdaqGS: PSMT) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an Equity Incentive Award Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 5, 2012, the Board of Directors recommends that PriceSmart’s shareholders vote to approve the Company’s 2013 Equity Incentive Plan, which would increase the number of shares of common stock available for grant under prior plans by 600,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of PriceSmart 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 PriceSmart and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/PSMT 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. Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.