NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Clorox Company (“Clorox” or the “Company”) (NYSE: CLX) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of executive compensation and an amendment to the Company’s Stock Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on September 28, 2012, the Board of Directors recommends that Clorox’s shareholders vote to approve an amendment to the Company’s 2005 Stock Incentive Plan (the “2005 Plan”) to increase the number of shares that may be issued under the 2005 Plan by an additional 2,900,000 shares. The issuance of the additional shares could have a severe dilutive effect on the shares of Clorox common stock.
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If you own common stock in Clorox and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CLX 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.
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SOURCE: Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP
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Attn: Juan E. Monteverde, Esq.
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Phone: (212) 983-9330
Source: Faruqi & Faruqi, LLP