NEW YORK, March 13, 2014 /PRNewswire/ -- 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 Silicon Laboratories Inc. ("Silicon Laboratories" or the "Company") (NasdaqGS: SLAB) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for amendments to the 2009 Stock Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on March 6, 2014, the Board of Directors recommends that Silicon Laboratories' shareholders vote to approve an amendment to the 2009 Stock Incentive Plan which would authorize the issuance of 3,100,000 additional shares of common stock thereunder. The issuance of the additional shares could have a substantial dilutive effect on the shares of Silicon Laboratories 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. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.If you own common stock in Silicon Laboratories and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SLAB or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Contact: