Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Commercial Metals Company (“Commercial Metals” or the “Company”) (NYSE: CMC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the implementation of Cash and Long-Term Equity Incentive Plans.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 10, 2012, the Board of Directors recommends that Commercial Metal’s shareholders vote to approve the Company’s 2013 Cash Incentive Plan and 2013 Long-Term Equity Incentive Plan, the latter of which would reserve 15,750,000 shares of Company common stock for awards. The issuance of the additional shares could have a substantial dilutive effect on the shares of Commercial Metals common stock.
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