An investigation for current long-term investors in shares of MGT Capital Investments Inc. (NYSEMKT:MGT) over potential wrongdoing by certain officers and directors of MGT Capital Investments Inc. was announced and current long-term NYSEMKT:MGT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 08/28/2013 -- An investigation on behalf of current long-term stockholders of shares of MGT Capital Investments Inc. (NYSEMKT:MGT) was announced concerning whether certain MGT Capital Investments officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of MGT Capital Investments Inc. (NYSEMKT:MGT) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain MGT Capital Investments officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment of the Company’s 2012 Stock Incentive Plan.
In the Proxy Statement filed by MGT Capital Investments Inc. with the Securities and Exchange Commission the Board of Directors recommends that MGT Capital’s shareholders vote to approve an amendment to the Company’s 2012 Stock Incentive Plan to increase the number of shares available for issuance thereunder from 415,000 to 1,335,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of MGT Capital Investments Inc.
MGT Capital Investments Inc. (NYSEMKT:MGT) reported that its annual Total Revenue declined from $0.54 million in 2011 to $0.41 million in 2012 and that its Net Loss for those time periods decreased from $4.55 million to $3.60 million, respectively.
Shares of MGT Capital Investments Inc. (NYSEMKT:MGT) declined from $6.99 per share in November 2012 to $2.77 per share in February 2013.
On August 27, 2013, NYSEMKT:MGT shares closed at $4.18 per share.
Those who purchased shares of MGT Capital Investments Inc. (NYSEMKT:MGT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com