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 Celadon Group Inc. (“Celadon” or the “Company”) (NYSE:CGI) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Celadon Group, Inc. 2006 Omnibus Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 28, 2013, the Board of Directors recommends that Celadon’s shareholders vote to approve an amendment to the Celadon Group, Inc. 2006 Omnibus Incentive Plan to increase the maximum aggregate number of shares of common stock available for the grant of awards by 750,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Celadon common stock.
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