An investigation on behalf of current long-term investors in NASDAQ:HERO shares over potential breaches of fiduciary duties by certain directors of Hercules Offshore, Inc. was announced and current long-term NASDAQ:HERO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/29/2012 -- Certain officers and directors of Hercules Offshore, Inc. are currently under investigation concerning whether they breached their fiduciary duties by paying certain top officials at Hercules Offshore, Inc. excessive compensation.
Investors who are current long-term stockholders in Hercules Offshore, Inc. (NASDAQ:HERO) shares 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 Hercules Offshore, Inc. harmed the company by agreeing to pay certain of Hercules Offshore’s senior officers and executives excessive compensation in past years.
Shares of Hercules Offshore, Inc. (NASDAQ:HERO) rose from as low as $1.16 per share in March 2009 to over $5 in the first months in 2012. However, NASDAQ:HERO shares traded in 2008 as high as $38.31 per share. In addition Hercules Offshore’s annual Revenue fell from $1.11billion in 2008 to $624.83million in 2010, respectively $655.36million in 2010.
Nevertheless, the compensation of certain top officials of Hercules Offshore, Inc. increased significantly from 2009 to 2011. For instance, the CEO and President earned in 2009 over $1.31million and in 2011 over $5.34million. The CFO’s pay rose from over $333,000 in 2009 to over $1.46million in 2011 and the Senior VP, General Counsel and Chief Compliance Officer’s compensation increased from over $591,000 in ’09 to over $1.54million in 2011.
Those who are current long-term stockholders Hercules Offshore, Inc. (NASDAQ:HERO) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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