An investigation for Corinthian Colleges Inc (NASDAQ:COCO) investors over potential breaches of fiduciary duties by certain directors of Corinthian Colleges Inc was announced and current long-term NASDAQ:COCO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2012 -- An investigation on behalf of current long-term investors in shares of Corinthian Colleges Inc (NASDAQ:COCO) was announced concerning whether certain officers and directors of Corinthian Colleges Inc breached their fiduciary duties by paying certain top officials at Corinthian Colleges Inc potentially excessive compensation.
Investors who are current long-term stockholders of shares of Corinthian Colleges Inc (NASDAQ:COCO), 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 Corinthian Colleges Inc harmed the company by agreeing to pay certain of Corinthian Colleges’s senior officers and executives excessive compensation.
Corinthian Colleges Inc (NASDAQ:COCO) reported that its total Revenue fell from over $1.78 billion for the 12 months period that ended on June 30, 2011 to over $1.6 billion for the 12 months period that ended on June 30, 2012 and its Net Loss increased over the respective time periods from $111.17 million to $10.24 million.
Shares of Corinthian Colleges Inc (NASDAQ:COCO) fell from as high as $18.58 per share in March 2010 to as low as $1.55 per share in September 2011.
The total compensation of certain top officials at Corinthian Colleges Inc (NASDAQ:COCO) increased between 2011 and 2012. For instance, the Executive VP, CFO and former CAO’s pay rose from over $638,00 in 2011 to over $840,000 in 2012, the Executive VP, CAO and former CFO’s pay rose from over $1.01 million in 2011 to over $1.29 million in 2012, and the Executive VP’s pay rose from over $925,000 in 2011 to over $1.04 million in 2012.
On October 5, 2012, NASDAQ:COCO shares closed at $2.42 per share, less than half its current 52 week High of $5.21 per share.
Those who are current long-term stockholders of Corinthian Colleges Inc (NASDAQ:COCO) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com