NEW YORK, April 11, 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 Owens- Illinois, Inc. ("Owens" or the "Company") (NYSE: OI) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval of the second amendment and restatement of the Company's 2005 Incentive Award Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on March 31, 2014, the Board of Directors recommends that Owens's shareholders vote to approve the second amendment and restatement of the 2005 Incentive Award Plan to increases the number of shares available under the plan by 6,000,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Owens 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 Owens and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/OI 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. Contact: