S&W Seed Company (NASDAQ:SANW) Investor Investigation Over Potential Wrongdoing Announced

If you are a current long-term stockholder of shares of S&W Seed Company (NASDAQ:SANW), 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): 
S&W Seed
Affected Securities: 
NASDAQ: SANW

Nov. 2, 2012 (Shareholders Foundation) -- An investigation on behalf of current long-term stockholders of shares of S&W Seed Company (NASDAQ:SANW) was announced concerning whether certain S&W Seed officers and directors possibly breached their fiduciary duties in connection with their conduct in seeking shareholders' approval of an amendment to the Company's Equity Incentive Plan.

The investigation by a law firm concerns whether certain S&W Seed's officers and directors potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval of an amendment to the Company's Equity Incentive Plan.

On Nov. 1, 2012, the S&W Seed Company Board of Directors announced that it is recommending that its shareholders increase the number of shares for potential issuance in the Company's 2009 Equity Incentive Plan by 500,000 shares to 1,250,000 shares.

S&W Seed Company said the Proxy Statement filed on October 29, 2012, ‘inadvertently’ indicated an increase in the Plan to 2,250,000 shares and that an amended Proxy Statement was filed with the Securities and Exchange Commission on November 1, 2012 to correct the error and no incorrect proxies have been mailed by S&W's proxy mailing firm.

All stockholders of record on October 19, 2012 will receive the notice of meeting and proxy statement filed on November 1, 2012.

According to the investigation the issuance of the additional shares could have a substantial dilutive effect on the shares of S&W Seed common stock.

S&W Seed Company reported that its Total Revenue rose from $3.64 million for the 12 months period that ended on June 30, 2011 to $14.15 million for the 12 months period that ended on June 30, 2012 and its Net Loss of $0.81 million for the 12 months period that ended on June 30, 2011 turned into a Net Income of $0.37 million for the 12 months period that ended on June 30, 2012.

Shares of S&W Seed Company (NASDAQ:SANW) grew from $2.95 per share in December 2010 to $8.30 per share on November 2, 2012.