August 5, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Cache, Inc. (NASDAQ:CACH) was announced concerning whether certain Cache officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Cache officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment of the Companys 2013 Stock Incentive Plan.

In the Proxy Statement filed by Cache, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Caches shareholders vote to approve an amendment to the Companys 2013 Stock Incentive Plan to increase the number of shares available for issuance from 65,693 to 1,065,693.

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

Cache, Inc. reported that its Total Revenue increased from $223.88 million for the 52 weeks period that ended on Dec. 31, 2011 to $224.21 million for the 52 weeks period that ended on Dec. 29, 2012. However, its Net Income of $2.08 million for the 52 weeks period that ended on Dec. 31, 2011 declined to a Net Loss of $12.08 million for the 52 weeks period that ended on Dec. 29, 2012.

Shares of Cache, Inc. (NASDAQ:CACH) declined from $7.38 per share in March 2012 to $2.01 per share in December 2012.

On August 5, 2013, NASDAQ:CACH shares closed at $4.50 per share.