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If you are a current long-term stockholder of shares of VIRTUAL PIGGY, INC. (OTCBB:VPIG), 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
October 15, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of VIRTUAL PIGGY, INC. (OTCBB:VPIG) was announced concerning whether certain VIRTUAL PIGGY officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain VIRTUAL PIGGY officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for the Companys 2013 Equity Incentive Plan.
In the Proxy Statement filed by VIRTUAL PIGGY, INC. with the Securities and Exchange Commission the Board of Directors recommends that Virtual Piggys shareholders vote to approve the Companys 2013 Equity Incentive Plan to increase the number of shares available for issuance thereunder by 5,000,000 shares.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of VIRTUAL PIGGY, INC.
VIRTUAL PIGGY, INC. (OTCBB:VPIG) declined from $3.28 per share in May 2013 to as low as $0.78 per share in late Sept. 2013.
On Oct. 9, 2013, OCTBB:VPIG shares closed at $1.05 per share.
