NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Family Dollar Stores Inc. (“Family Dollar” or the “Company”) (NYSE: FDO) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the adoption of an Employee Stock Purchase Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 6, 2012, the Board of Directors recommends that Family Dollar’s shareholders vote to approve the adoption of an Employee Stock Purchase Plan. The Board of Directors has reserved an aggregate of 1,000,000 shares of Company common stock for issuance under the Purchase Plan. The issuance of the additional shares could have a substantial dilutive effect on the shares of Family Dollar common stock.
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