San Diego, CA -- (SBWIRE) -- 04/25/2012 -- An investigation on behalf of investors in NYSE:ATU shares of was initiated concerning whether certain officers and directors at Actuant Corporation breached their fiduciary duties by paying certain executives excessive compensation.
Investors who purchased Actuant Corporation (NYSE:ATU) and currently hold those NYSE:ATU shares, have certain options and should contact the Shareholders Foundation, Inc by email at mail(at)shareholdersfoundation.com or call +1 (858) 779 - 1554.
The investigation by a law firm focuses on whether the directors and officers of Actuant Corporation harmed the company by agreeing to pay certain of Actuant’s senior officers and executives excessive compensation in past years.
Actuant Corporation (NYSE:ATU) reported that its Total Revenue rose from $1.11billion for a 12months period ending on August 31, 2008 to $1.44billion for a 12months period ending on August 31, 2011 and that its Net Income over those time frames increased from $13.72million to $111.56million, respectively.
However, Actuant’s Total Revenue for the 12months period ending on August 31, 2008 and the 12months period ending on August 31, 2011 only insignificantly changed while its Net Income fell from $122.54million for the 12months period ending on August 31, 2008 to $111.56million for the 12months period ending on August 31, 2011
Shares of Actuant Corporation (NYSE:ATU) rose from as low as $7.81 per share in March 2009 to over $29 per share in March 2012. However, NYSE:ATU shares traded during 2008 as high as $36.51 per share.
Despite better financial numbers in 2008 than in 2011, the total compensation of certain top executives at Actuant Corporation increased significantly from 2008 to 2011. The CEO’s total compensation increased from over $3.8million in 2008 over $5million in 2011, the executive Vice President’s pay rose from over $1.1million in ‘08 to over $1.4million in 2011, the COO’s compensation increased from over $1.5million in 2008 to over $2.4million in 2011, and the CFO’s pay increased from over $1.3million in ’08 to over $1.7million in 2011.
Those who purchased Actuant Corporation (NYSE:ATU) and currently hold those Actuant Corporation (NYSE:ATU) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego