An investigation for current long-term investors in shares of Synergy Resources Corp (NYSEMKT:SYRG) over potential wrongdoing by certain officers and directors of Synergy Resources Corp was announced and current long-term NYSEMKT:SYRG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 08/12/2013 -- An investigation on behalf of current long-term stockholders of shares of Synergy Resources Corp (NYSEMKT:SYRG) was announced concerning whether certain Synergy officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Synergy Resources Corp (NYSEMKT:SYRG) 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 Synergy Resources officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s Non-Qualified Stock Option Plan.
In the Proxy Statement filed by Synergy Resources Corp with the Securities and Exchange Commission the Board of Directors recommends that Synergy Resources’ shareholders vote to approve an amendment to the Company’s Non-Qualified Stock Option Plan to increase the number of shares available for issuance thereunder from 2,000,000 to 5,000,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NYSEMKT:SYRG common stock.
Synergy Resources Corp reported that its Total Revenue increased from $10.00 million for the 12 months period that ended on August 31, 2011 to $24.97 million for the 12 months period that ended on August 31, 2012 and that its Net Loss of $11.60 million for the 12 months period that ended on August 31, 2011 turned into a Net Income of $12.12 million for the 12 months period that ended on August 31, 2012.
Shares of Synergy Resources Corp (NYSEMKT:SYRG) grew from $2.50 per share in October 2011 to as high as $8.05 per share on August 5, 2013.
Those who purchased shares of Synergy Resources Corp (NYSEMKT:SYRG) 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