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If you are a current long-term stockholder of shares of Medgenics Inc (NYSEMKT:MDGN), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
March 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Medgenics Inc (NYSEMKT:MDGN) was initiated concerning whether certain officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain Medgenics officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the Medgenics, Inc. Stock Incentive Plan.
In the Proxy Statement filed by Medgenics Inc with the Securities and Exchange Commission the Board of Directors recommends that Medgenics's shareholders vote to approve the issuance of shares of the common stock by 2,000,000 under the Stock Incentive Plan.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Medgenics Inc.
Shares of Medgenics Inc (NYSEMKT:MDGN) grew from $3.50 per share in June 2013 to as high as $8.93 per share in February 2014.
On March 14, 2014, NYSEMKT: MDGN shares closed at $8.44 per share.
