Helix Energy Solutions Group Inc. Investor Investigation over potential Breaches of Fiduciary Duty

June 13, 2011 - PRLog -- An investigation on behalf of current long term investors in shares of Helix Energy Solutions Group Inc.  concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Helix Energy Solutions Group was announced.

If you are a current long term investor in Helix Energy Solutions Group  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 Helix Energy Solutions Group Inc. harmed the company by breaching their fiduciary duties to shareholders. In particular the investigation on behalf of current long term investors in Helix Energy Solutions Group Inc. (NYSE HLX) focuses on possible shareholder claims that certain of Helix Energy Solutions Group’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.  

Helix Energy Solutions Group’s CEO earned roughly $4million in 2010, its CFO $2.14million, its EVP and General Counsel $1.66million, its COO $2.55million, and its former EVP Oil & Gas $3.16million.

However, Helix Energy Solutions Group’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Helix Energy Solutions Group's say on pay provision. Helix Energy Solutions Group Inc received only a little over 30% support for its pay practices at its May 11 annual meeting, according to a company filing.

The investigation concerns possible claims that the prior compensation awarded at Helix Energy Solutions Group is improper based upon its current operating condition.
Helix Energy Solutions Group’s 12months Total Revenue declined from $1.732billion in 07, respectively $2.114billion in 2008 to $1.199billion in 2010. Its Net Income fell within the same time frame from a Net Income of $315.70million in 2007 to a Net Loss of $635.93million in 2008 and a Net Loss of $126.99million in 2010.
Even though shares of Helix Energy Solutions Group Inc. (Public, NYSE-HLX) rose from as low as $3.11 during February 2009 to as high as $18.93 per share in April 2011, NYSE HLX stock fell from as high as over $40 in 2008, respectively almost $46 per share in 2007 and are currently trading at less than 50% of its value from mid 2008.

The investigation seeks to determine whether certain senior officers and executives at Helix Energy Solutions Group Inc were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were excessive or unwarranted based on the Helix Energy Solutions Group’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 NYSE-HLX stockholders to more efficiently influence or control future compensation decisions at Helix Energy Solutions Group Inc.

Those who are current long term investors in Helix Energy Solutions Group Inc. (Public, NYSE- HLX) 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.