A lawsuit was filed by an investors in shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) over alleged breaches of fiduciary duties and current long-term NASDAQ:MSPD stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/09/2013 --An investor in shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) filed a lawsuit against Mindspeed Technologies’ CEO and certain directors over certain stock award that were granted to the CEO.

Investors who are current long-term stockholders of shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD), 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 board of directors breached their fiduciary duties by agreeing to award the CEO equity awards that allegedly exceeded the limited allowed by the shareholder-approved Mindspeed Technologies’s long-term incentive plan.

Indeed, the CEO’s pay rose from over $4.13 million in 2010 to over $5.05 million in 2011.

On October 10, 2012, NASDAQ:MSPD shares closed at $3.22 per share, less than half its current 52 week High of $7.28 per share.

Those who are current long-term stockholders of Mindspeed Technologies, Inc. (NASDAQ:MSPD) shares have certain options and should contact the Shareholders Foundation.

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