March 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Winmark Corporation (NASDAQ:WINA) 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 Winmark officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the 2010 Stock Option Plan.

In the Proxy Statement filed by Winmark Corporation. with the Securities and Exchange Commission the Board of Directors recommends that Winmark's shareholders vote to approve the issuance of shares of the common stock from 250,000 to 500,000 under the 2010 Stock Option Plan.

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

Winmark Corporation reported that its Total Revenue rose from $51.94 million for the 52 weeks period that ended on December 29, 2012 to $55.73 million for the 52 weeks period that ended on December 28, 2013 and that its respective Net Income increased from $12.94 million to $18.23 million.

Shares of Winmark Corporation (NASDAQ:WINA) grew from $448.11 per share in June 2012 to as high as $93.55 per share in December 2013.

On march 14, 2014, NASDAQ:WINA shares closed at $76.91 per share.