Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Dolby Laboratories Inc. (“Dolby” or the “Company”) (NYSE: DLB) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the amendment and restatement of the Company’s 2005 Stock Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 26, 2012, the Board of Directors recommends that Dolby’s shareholders vote to approve the amendment and restatement of the Company’s 2005 Stock Plan to reserve an additional 8,000,000 shares of Class A Common Stock for issuance thereunder. Dolby’s Board of Directors also recommends that shareholders vote for a proposal to amend and restate the Company’s Employee Stock Purchase Plan to reserve an additional 3,000,000 shares of Class A Common Stock for purchase thereunder. The issuance of the additional shares could have a substantial dilutive effect on the shares of Dolby’s common stock.
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Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn: Juan E. Monteverde, Esq.
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