December 20, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Copart, Inc. (NASDAQ:CPRT) was announced concerning whether certain Copart officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Copart officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the 2007 Equity Incentive Plan.

In the Proxy Statement filed by Copart, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Copart's shareholders vote to approve the 2007 Equity Incentive Plan to increase the number of shares thereunder from 8,000,000 to 12,000,000.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Copart, Inc.

Copart, Inc. reported that its Total Revenue rose from $924.19 million for the 12 months period that ended on July 31, 2012 to over $1.04 billion for the 12 months period that ended on July 31, 2013 and that its respective Net Income declined from $182.12 million to $180.03 million.

Shares of Copart, Inc. (NASDAQ:CPRT) grew from $23.30 per share in June 2012 to as high as $38.09 per share in May 2013.

On December 20, 2013, NASDAQ:CPRT shares closed at $35.69 per share.