An investigation for Abaxis Inc (NASDAQ:ABAX) investors over potential breaches of fiduciary duties by certain directors of Abaxis Inc was announced and current long-term NASDAQ:ABAX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/09/2012 -- An investigation on behalf of current long-term investors in shares of Abaxis Inc (NASDAQ:ABAX) was announced concerning whether certain officers and directors of Abaxis Inc breached their fiduciary duties by paying certain top officials at Abaxis Inc excessive compensation.
Investors who are current long-term stockholders of shares of Abaxis Inc (NASDAQ:ABAX), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain directors and officers of Abaxis Inc harmed the company by agreeing to pay certain of Abaxis’ senior officers and executives excessive compensation.
Abaxis Inc (NASDAQ:ABAX) reported that its Total Revenue rose from $143.68 million for the 12 months period that ended on March 31, 2011 to $156.60 million for the 12 months period that ended on March 31, 2012. However, its Net Income over the respective time periods fell from $14.54 million to $13.09 million.
The compensation of certain top officials at Abaxis Inc increased between its FY 2010 to 2012. For instance, the President, CEO and Chairman of the Board’s total pay rose from over $1.81 million in the FY 2010 to over $2.3 million in the FY 2012 and the CFO’s compensation increased from over $939,000 in the FY 2010 to over $1.12 million in the FY 2012
Those who are current long-term stockholders of Abaxis Inc (NASDAQ:ABAX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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