July 15, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) was announced concerning whether certain Rocky Mountain Chocolate Factory officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Rocky Mountain Chocolate Factory, officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment to the Companys 2007 Equity Incentive Plan.

In the Proxy Statement filed by Rocky Mountain Chocolate Factory, Inc. with the Securities and Exchange Commission on June 28, 2013, the Board of Directors recommends that Rocky Mountains shareholders vote to approve an amendment to the Companys 2007 Equity Incentive Plan to increase the number of shares available for issuance from 16,953 to 316,953.

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

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) reported that its Total Revenue rose from $31.13 million for the 12 months period that ended on Feb. 28, 2011 to $36.32 million for the 12 months period that ended on Feb. 28, 2013 and that its respective Net Income declined from $3.91 million to $1.48 million.

Shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) grew from $8.14 per share in October 2011 to as high as $13.21 per share in May 2013.

On July 15, 2013, NASDAQ:RMCF shares closed at $12.59.