January 30, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Chanticleer Holdings Inc (NASDAQ:HOTR) was announced concerning whether certain Chanticleer Holdings officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Chanticleer Holdings officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval of the Company's 2014 Stock Incentive Plan.
In the Proxy Statement filed by Chanticleer Holdings Inc with the Securities and Exchange Commission the Board of Directors recommends that Chanticleer Holdings Inc 's shareholders vote to approve an amendment to the Company's 2014 Stock Incentive Plan to increase the number of shares available for issuance thereunder from 20,000,000 to 45,000,000.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Chanticleer Holdings Inc

Chanticleer Holdings Inc reported that its annual Total Revenue rose from $0.14 million in 2010 to $6.88 million in 2012 while its Net Loss increased from $1.01 million in 2010 to $3.17 million in 2012.

Shares of Chanticleer Holdings Inc (NASDAQ:HOTR) grew from $1.70 per share in March 2013 to as high as $5.61 per share in late 2013.

On January 30, 2014 NASDAQ: HOTR shares closed at $4.01 per share.