San Diego, CA -- (SBWIRE) -- 01/16/2014 -- An investor who currently hold NASDAQ:EXPE shares filed a lawsuit against directors of Expedia Inc in connection with the compensation of the CEO.
Investors who are current long term investors in Expedia Inc (NASDAQ:EXPE) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties by agreeing to vest a 400,000-share restricted stock unit to Expedia's CEO even though performance targets hadn't been met for years and then tried to cover up their alleged misconduct.
Expedia currently faces a lawsuit over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Western District the plaintiff alleges that Expedia Inc violated the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that between July 27, 2012 and July 25, 2013, defendants issued materially allegedly false and misleading statements regarding the Company’s business and prospects, including the impact that spinning off TripAdvisor would have on Expedia’s revenues and profits and that as a result of defendants’ alleged false statements and/or omissions, Expedia’s stock traded at artificially inflated levels between July 27, 2012 and July 25, 2013.
On July 25, 2013, Expedia Inc announced its second quarter 2013 earnings. Shares of Expedia Inc declined from $65.62 per share on July 25, 2013, to $46.026 per share on July 29, 2013
On January 14, 2014, NASDAQ:EXPE shares closed at $69.33 per share.
Those who purchased shares of Expedia Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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