Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Teche Holding Company (“Teche” or the “Company”) (NYSE MKT: TSH) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for a an advisory proposal on the Company’s executive compensation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on January 4, 2013, the Board of Directors recommends that Teche’s shareholders vote to approve a non-binding advisory proposal regarding the Company’s executive compensation. The issuance of the additional shares could have a substantial dilutive effect on the shares of Teche common stock.
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