Entercom Communications Corp. (NYSE:ETM) Investor Investigation Over Possible Wrongdoing announced

If you are a current long-term stockholder of shares of Entercom Communications Corp. (NYSE:ETM), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Entercom Communications
Affected Securities: 
NYSE: ETM

March 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Entercom Communications Corp. (NYSE:ETM) was initiated concerning whether certain Entercom Communications officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Entercom Communications Corp. (NYSE:ETM officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval of an amendment and restatement of the Entercom Equity Compensation Plan.

In the Proxy Statement filed by Entercom Communications Corp. with the Securities and Exchange Commission the Board of Directors recommends that Entercom's shareholders vote to approve the issuance of 10,300,000 shares of the Class A Common Stock under the amendment and restatement of the Entercom Equity Compensation Plan.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Entercom Communications Corp.

Entercom Communications Corp. reported that its annual Total Revenue declined from $388.92 million in 2012 to $377.62 million in 2013, while its Net Income for those years rose from $11.27 million to $26.02 million.

Shares of Entercom Communications Corp. (NYSE:ETM) grew from $4.85 per share in June 2012 to as high as $11.21 per share in January 2014.

On March 14, 2014, NYSE:ETM shares closed at $10.10 per share.