Boston, MA 03/25/2014 (wallstreetpr) – The Board of Directors of Shenandoah Telecommunications Company (NASDAQ:SHEN) will face investigation initiated by a leading national securities firm, Faruqi&Faruqi, LLP. Theinvestigation is aimed at inquiring about the possible breach of fiduciary duty by the board members relating to their conduct in taking shareholders’ approval for the company’s 2014 Equity Incentive Plan. On March 13, 2014, the company had filed a proxy statement with the Securities Exchange Commission (SEC), wherein it mentioned that the company’s Board of Directors seek its shareholders’ to approve the 2014 Equity Incentive Plan, under which the total shares of the company will increase through an addition of 1,500,000. However, the proposed issuance could have a major dilutive effect on Shenandoah Telecommunications Company (NASDAQ:SHEN)’s shares.
Dex Media Inc (NASDAQ:DXM) retreated from its double digit gains of last week. The social and mobile marketing solutions company reaped gains last week after it filed Form 10 K with SEC on 14th March. The key highlights of this filing included the overview of efficiency of scale that the company achieved after strengthening its operations under one roof, which is in addition to its effort to float an increased number of products into the market during the said period.
Cavanal Hill Investment Management, Inc, which is a subsidiary of BOK Financial Corporation (NASDAQ:BOKF), announced that it has bagged the Lipper Fund Awards, once again. The idea of conferring the Lipper Fund Award is to recognize those funds that have been able to deliver excellent risk-adjusted returns as compared to its peers. Mike Maurer managed Cavanal Hill’s Intermediate Bond Fund, Institutional (AIFBX) received the Lipper Fund Award for the three-year as well as five-year periods. In addition to this, the fund’s The Intermediate Bond Fund, Institutional (AIFBX) and Short-Term Income Fund, Institutional (AISTX) also received number one Lipper ranking. It is to be noted that Lipper Awards is regarded as one of the prestigious awards among the mutual fund industry.
