The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Fabrinet (NYSE:FN) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Fabrinet.
Investors who purchased shares of Fabrinet (NYSE:FN) and currently hold any of those NYSE:FN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Fabrinet (NYSE:FN officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
OnAugust 18, 2014, Fabrinet (NYSE:FN) announced that during the fourth quarter of the fiscal year ended June 27, 2014, certain accounting issues were discovered by management, which prompted the Audit Committee to commence an internal investigation. Fabrinet said that its Audit Committee is investigating whether there were any violations of the Company’s accounting policies associated with these potential accounting matters and that the Company has also notified the SEC of the Audit Committee’s investigation. Shares of Fabrinet declined from $19.67 per share on August 11, 2014, to $13.57 per share on August 18, 2014.
Then on September 10, 2014, Fabrinet (NYSE:FN) disclosed that it is delaying its Annual Report on Form 10-K for the year ended June 27, 2014. Fabrinet stated that it will be delayed beyond the required filing date of September 10, 2014.
Shares of Fabrinet (NYSE:FN) declined to $15.00 per share on September 16, 2014.
On September 26, 2014, NYSE:FN shares closed at $14.94 per share.
Those who purchased shares of Fabrinet (NYSE:FN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com