March 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Silicon Laboratories (NASDAQ:SLAB) was initiated concerning whether certain Silicon Laboratories officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Silicon Laboratories officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for amendments to the 2009 Stock Incentive Plan.

In the Proxy Statement filed by Silicon Laboratories with the Securities and Exchange Commission the Board of Directors recommends that Silicon Laboratories' shareholders vote to approve an amendment to the 2009 Stock Incentive Plan which would authorize the issuance of 3,100,000 additional shares of common stock thereunder.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Silicon Laboratories.

Silicon Laboratories reported that its Total Revenue rose from $563.29 million for the 52 weeks period that ended on Dec. 29, 2012 to $580.09 million for the 52 weeks period that ended on Dec. 28, 2013, while its respective Net Income declined from $63.55 million to $49.82 million.

Shares of Silicon Laboratories (NASDAQ:SLAB) grew from $32.55 per share in May 2012 to as high as $53.525 per share on March 10, 2014.