Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Advanced Photonix Inc. (“Advanced Photonix” or the “Company”) (NYSE MKT: API) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for adopting the Company’s 2013 Equity Incentive Plan.
Specifically, in the Preliminary Proxy Statement filed by the Company with the Securities and Exchange Commission on June 28, 2013, the Board of Directors recommends that Advanced Photonix’s shareholders vote to approve the Company’s 2013 Equity Incentive Plan which would authorize 3,000,000 shares for issuance. The issuance of the additional shares could have a substantial dilutive effect on the shares of Advanced Photonix 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 Advanced Photonix and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/API or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2013 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.