July 16, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of COMARCO, Inc. (OTCMKTS:CMRO) was announced concerning whether certain COMARCO officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain COMARCO officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment to the Companys 2011 Equity Incentive Plan.

In the Proxy Statement filed by COMARCO, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Comarcos shareholders vote to approve an amendment to the Companys 2011 Equity Incentive Plan in order to increase the total number of shares of common stock reserved for issuance thereunder by 600,000 shares.

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

COMARCO, Inc. reported that its Total Revenue declined from $28.95 million for the 52 weeks period that ended on Jan. 31, 2011 to $6.34 million for the 52 weeks period that ended on Jan. 31, 2013.

Shares of COMARCO, Inc. (OTCMKTS:CMRO) declined from $3.23 per share on March 2010 to $0.10 per share in June 2012.

On July 10, 2013, CMRO shares closed at $0.185.