Transcat, Inc. (NASDAQ:TRNS) Investor Investigation Over Potential Wrongdoing Announced

If you are a are current long-term stockholder of shares of Transcat, Inc. (NASDAQ:TRNS), 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): 
Transcat
Affected Securities: 
NASDAQ: TRNS

August 12, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Transcat, Inc. (NASDAQ:TRNS) was announced concerning whether certain Transcat officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Transcat officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s 2003 Incentive Plan.

In the Proxy Statement filed by Transcat, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Transcat’s shareholders vote to approve an amendment to the Company’s 2003 Incentive Plan to increase the number of shares available for issuance thereunder from 1,900,000 to 3,400,000

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:TRNS common stock.

Transcat, Inc. reported that its Total Revenue increased from $110.02 million for the 12 months period that ended on March 31, 2012 to $112.30 million for the 12 months period that ended on March 30, 2013 and that its Net Income for those time periods rose from $3.30 million to $3.70 million.

Shares of Transcat, Inc. (NASDAQ:TRNS) traded in 2012 as high as $13.11 per share in late March and declined to as low as $5.15 per share in October 2012.

On August 12, 2013, NASDAQ:TRNS shares closed at $7.75 per share.