Jacobs Engineering Group Inc. under investor investigation concerning excessive executive payout

Feb. 2, 2011 - PRLog -- An investigation on behalf of current long term investors in Jacobs Engineering Group Inc. (, NYSE-JEC) concerning possible breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers at Jacobs Engineering Group was announced.

If you are a current long term investor in Jacobs Engineering Group Inc. (Public, NYSE-JEC) stock and / or if you have additional information relating to the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Pasadena, California based Jacobs Engineering Group just recently had their shareholders vote on the January 27 annual meeting over the management’s compensation proposal. The vote drew a 53.7 percent negative vote against the proposal.
The investigation by a law firm on behalf of current long term investors in Jacobs Engineering Group Inc. (Public, NYSE-JEC) focuses on possible shareholder claims that certain of Jacobs Engineering Group’s senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.   Even though Jacobs Engineering Group’s 12months Total Revenue went from $8.473billion reported on Sept. 30, 2007 to $9.915billion reported on October 1, 2010, between those filing periods Jacobs Engineering’s 12 month Total Revenue was both times over $11billion. Additionally over the same time frame its Net Income went from $287.13million to $420.74million, to $399.85million and then lately to $245.97million. Thus while Jacobs Engineering Group 12months Total Revenue from 2008 and 2009 from over $11billion went to $9.9billion and its Net Income decreased from $420.74million, respectively $399.85million to $245.97million its CEO Craig L. Martin is according to Equilar data still among the 200 highest paid U.S. CEOs.
According to Forbes.com CEO Martin earned a 4year compensation total of $40million. In 2010 he earned a Total Compensation of $2.14 million, but in 2009 Forbes data shows that CEO Martin has a Total Compensation of $29.77million mainly due to $27.37million from stock gains; in 2008 Mr. earned a Total Compensation of $4.12million and in 2007 he earned $3.98million.

Certain senior officers at Jacobs Engineering Group Inc. (Public, NYSE-JEC), were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were, so the investigation, excessive or unwarranted based on the Jacobs Engineering Group’s performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting.  The investigation by the law firm is also investigating claims that the prior compensation awarded at Jacobs Engineering Group Inc. is now clearly improper based upon its current operating condition.  Finally the investigation focuses also on possible shareholder claims that would allow Jacobs Engineering Group (JEC) stockholders to influence or control future compensation decisions at Jacobs Engineering Group Inc.

Shares of Jacobs Engineering Group Inc. (Public, NYSE-JEC)traded during 2006 at roughly $40 before increased throughout 2007 to as high as $98.08 per share. During 2008 JEC shares traded during May as high as $96.45 per share but then fell to under $30 per share in November.

Recently JEC shares traded at above $52 per share, still significantly below its values in 2007 and 2008.

Those who are current long term investors in Jacobs Engineering Group Inc. (Public, NYSE-JEC) stock and / or if you have additional information relating to the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.