Press release from Business Wire
Faruqi & Faruqi, LLP Launches an Investigation against Atlas Air Worldwide Holdings Inc. (AAWW) for Potential Breaches of Fiduciary Duties by Its Board of Directors
Friday, April 19, 2013
Faruqi & Faruqi, LLP Launches an Investigation against Atlas Air Worldwide Holdings Inc. (AAWW) for Potential Breaches of Fiduciary Duties by Its Board of Directors20:30 EDT Friday, April 19, 2013
NEW YORK (Business Wire) -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Atlas Air Worldwide Holdings Inc. (“Atlas Air” or the “Company”) (NASDAQ: AAWW) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the Company's 2007 Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on April 15, 2013, the Board of Directors recommends that Atlas Air's shareholders vote to approve an amendment to the Company's 2007 Incentive Plan to increase the shares available for awards by 1,300,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Atlas Air common stock.
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