A lawsuit was filed by an investor in shares of Echostar Corporation (NASDAQ:SATS) over alleged breaches of fiduciary duties and current long-term NASDAQ:SATS stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 12/11/2012 --An investor in shares of Echostar Corporation (NASDAQ:SATS) filed a lawsuit against directors of Echostar Corporation over the executive compensation of the Chairman of the Board.

Investors who are current long-term stockholders of shares of Echostar Corporation (NASDAQ:SATS), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties by granting the chairman of the board 1.5 million stock options in 2011. The plaintiff claims that the company’s incentive plan limits such grants to 800,000 shares per year.

In fact, the total compensation of certain top officials at Echostar Corporation increased between 2010 and 2011. For instance the Chairman’s total pay rose from over $124,000 in 2010 to over $21.82 million in 2011, the executive VP and CFO’s compensation increased from over $121,000 in 2010 to over $1.84 million in 2011, and the CEO and President’s pay rose from over $755,000 in 2010 to over $808,000 in 2012.

Echostar Corporation (NASDAQ:SATS) reported that its Net Income fell from $364.70 million in 2009 to $3.64 million in 2011 and NASDAQ:SATS shares fell in the second half of 2011 to as low as $20.49 per share.

Shares of Echostar Corporation (NASDAQ:SATS) closed on December 10, 2012, at $33.16 per share.

Those who are current long-term stockholders of Echostar Corporation (NASDAQ:SATS) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com