Shareholders Foundation, Inc.

Parametric Sound Corp (NASDAQ:PAMT) Long Term Investor Alert: Investigation over Potential Wrongdoing

An investigation for current long-term investors in shares of Parametric Sound Corp (NASDAQ:PAMT) over potential wrongdoing by certain officers and directors of Parametric Sound Corp was announced and current long-term NASDAQ:PAMT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 01/23/2013 -- An investigation on behalf of current long-term stockholders of shares Parametric Sound Corp (NASDAQ:PAMT) was announced concerning whether certain Parametric Sound officers and directors possibly breached their fiduciary duties in connection with certain statements.

Investors who are current long-term stockholder of shares of Parametric Sound Corp (NASDAQ:PAMT), 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 Parametric Sound officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Parametric Sound’s 2012 Stock Option Plan.

In the Proxy Statement filed by Parametric Sound Corp with the Securities and Exchange Commission, the Board of Directors recommends that Parametric Sound’s shareholders vote to approve an amendment to the Parametric Sound’s 2012 Stock Option Plan to authorize the issuance of an additional 500,000 shares of common stock under the plan.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:PAMT common stock.

Parametric Sound Corp reported that its Net Loss of $1.48 million for the 12 months period that ended on Sept. 30, 2011 increased to a Net Loss of $4.46 million for the 12 months period that ended on Sept. 30, 2012.

Shares of Parametric Sound Corp (NASDAQ:PAMT) declined from as high as $11.46 per share in Sept. 2012 to as low as $4.02 in December 2012.

On Jan. 22, 2013, NASDAQ:PAMT shares closed at $8.69 per share.

Those who purchased shares of Parametric Sound Corp (NASDAQ:PAMT), 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