NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Kimball International, Inc. (“Kimball” or the “Company”) (NasdaqGS: KBALB) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the amendment and restatement to the Company’s 2003 Stock Option and Incentive Plan (“Plan”).
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on September 4, 2013, the Board of Directors recommends that Kimballs’ shareholders vote to approve an amendment and restatement to the Plan to increase the number of shares available for issuance pursuant to all awards thereunder from 2,500,000 to 5,000,000 shares. This Plan also seeks to increase shares for issuance pursuant to incentive stock options from 2,500,000 to 5,000,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Kimball common stock.
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If you own common stock in Kimball and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/KBALB or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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