Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Toro Company (“Toro” or the “Company”) (NYSE: TTC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s Restated Certificate of Incorporation.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on January 29, 2013, the Board of Directors recommends that Toro’s shareholders vote to approve an amendment to restate the Company’s Certificate of Incorporation to increase the number of authorized shares of common stock from 100,000,000 to 175,000,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Toro common stock.
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Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn: Juan E. Monteverde, Esq.
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