Feb. 05, 2013 (Shareholders Foundation) -- An investigation on behalf of current long-term stockholders of shares Whole Foods Market, Inc. (NASDAQ:WFM) was announced concerning whether certain Whole Foods Market officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Whole Foods Market, Inc. officers and directors breached their fiduciary duties in connection with the proposed vote scheduled for March 15, 2013 to approve the amendment to the Whole Foods Market, Inc. 2009 Stock Incentive Plan to increase the number of shares of common stock authorized for issuance pursuant to such plan by an additional 14.5 million shares.

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

Whole Foods Market, Inc. (NASDAQ:WFM) reported that its Total Revenue rose from over $8.03 billion for the 52 weeks period that ended on Sept. 27, 2009 to over $11.69 billion for the 53 weeks period that ended on Sept. 30, 2012 and that its respective Net Income increased from $146.80 million to $465.57 million.

Shares of Whole Foods Market, Inc. (NASDAQ:WFM) grew from as low as $9.97 per share in February 2009 to as high as $101.19 per share in October 2012.

On Jan. 30, 2013, NASDAQ:WFM shares closed at $95.25 per share.