Faruqi & Faruqi, LLP Launches An Investigation Against Johnson Controls Inc. (JCI) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Johnson Controls Inc. ("Johnson Controls" or the "Company") (NYS: JCI) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for the Company's 2012 Omnibus Incentive Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 10, 2012, the Board of Directors recommends that Johnson Controls' shareholders vote to approve the Johnson Controls, Inc. 2012 Omnibus Incentive Plan. The 2012 Omnibus Incentive Plan would allow the Company to issue 36,800,000 shares of common stock. The issuance of the additional shares could have a substantial dilutive effect on the shares of Johnson Controls' common stock.
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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Johnson Controls and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/JCI 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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