potential breaches of fiduciary duties

http://finance.yahoo.com/news/faruqi-faruqi-llp-launches-investigation-144500813.html

Faruqi & Faruqi, LLP Launches An Investigation Against Biota Pharmaceuticals, Inc. (BOTA) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Biota Pharmaceuticals, Inc.

NEW YORK--(BUSINESS WIRE)--

"Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Biota Pharmaceuticals, Inc. (“Biota” or the “Company”) (BOTA) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment of the Company’s 2007 Omnibus Equity and Incentive Plan.

Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 1, 2013, the Board of Directors recommends that Biota’s shareholders vote to approve an amendment to the Company’s 2007 Omnibus Equity and Incentive Plan to increase the number of shares available for issuance thereunder from 1,157,978 to 4,157,978. The issuance of the additional shares could have a substantial dilutive effect on the shares of Biota common stock."