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Intersil Corporation Investor Investigation over possible excessive Executive Compensation

An investigation on behalf of current long term investors in Intersil Corporation (NASDAQ:ISIL) was announced and NASDAQ: ISIL stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog - Jun. 8, 2011 - SAN DIEGO -- An investigation on behalf of current long term investors in shares of Intersil Corporation (NASDAQ: ISIL) concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Intersil Corp. was announced.

If you are a current long term investor in Intersil Corporation (NASDAQ: ISIL) stock and/or if you have any information relating the investigation including whistleblowers and former employees, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether the directors and officers of Intersil Corp harmed the company by breaching their fiduciary duties to shareholders. In particular the investigation on behalf of current long term investors in Intersil Corporation (NASDAQ: ISIL) focuses on possible shareholder claims that certain of Intersil’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.  

Intersil’s CEO total compensation rose from $3.16million in 2008 and 2008 to $4.44million in 2010 and the Senior Vice President and CFO’s pay rose from $427,000 in 2008 to $1.34million in 2010.

However, Intersil’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Intersil's say on pay provision at its May 4 annual meeting, according to a company filing.

The investigation concerns possible claims that the prior compensation awarded at Intersil Corporation is improper based upon its current operating condition.

While Intersil Corp’s 12months Total Revenue increased from $756.97million in 2007 to $822.40million in 2010, it reported a substantial Net Loss in 2008 of $1.026billion compared to a Net income of $140.48million in 2007, $38.56million for 2009 and $26.39million in 2010. For the first 13weeks ending on April 1, 2011 Intersil Corporation reported a Net Income of $14.13million compared to $27.67million a year earlier.

Even though shares of Intersil Corporation (NASDAQ:ISIL) increased from as low as $7.92 per share in December 2008 to slightly over $15 per share in May 2011, NASDAQ: ISIL stock dropped from as high as $33.48 in 07, respectively $$28.15 per share in ’08.

The investigation seeks to determine whether certain senior officers and executives at Intersil Corp were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were excessive or unwarranted based on the Intersil’s performance as compared to what senior officers and executives at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting.

Finally the investigation focuses also on possible shareholder claims that would allow Intersil Corp (ISIL) stockholders to more efficiently influence or control future compensation decisions at Intersil Corporation.

Those who are current long term investors in Intersil Corporation (Public, NASDAQ: ISIL) stock and/or those who have any information relating the investigation including also whistleblowers and former employees, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio legal monitoring service and 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.

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Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
City/Town:San Diego - California - United States
Industry:Banking, Business, Finance
Tags:isil, intersil, Intersil Corp, Intersil Corporation, NASDAQ: ISIL, executive compensation, salary, employee, investigation
Shortcut:prlog.org/11530993
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