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Cincinnati Bell Inc. Executive Pay under Investor Investigation

An investigation on behalf of current long term investors in Cincinnati Bell Inc. (NYSE: CBB) was announced and NYSE:CBB stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

FOR IMMEDIATE RELEASE

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog (Press Release) - Jun. 14, 2011 - An investigation on behalf of current long term investors in shares of Cincinnati Bell Inc. (NYSE: CBB) concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Cincinnati Bell Inc. was announced.

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

Cincinnati Bell’s CEO pay rose from about $4.985million in 09 to $8.52million in 2010 and its CFO’s compensation increased from roughly $1.15million in 2009 to $2.074million in 2010.

However, Cincinnati Bell’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Cincinnati Bell's say on pay provision. Cincinnati Bell Inc. received almost 70% opposition against its pay practices at its May 3 annual meeting, according to a company filing. The roughly 30% support are one of the lowest vote seen so far this season.

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

While Cincinnati Bell’s annual Revenue remained relatively stable its Net Income fell from $102.60million in 2008 to $28.30million in 2010. Cincinnati Bell Inc. reported for the first quarter in 2011 a decreased quarterly Net Income of $17.90million compared to $22.80million a year earlier.

Shares of Cincinnati Bell Inc. (NYSE:CBB) rose from as low as $1.39 per share in Jan 09 to $3.54 per share in June 2010. However NYSE: CBB stocks had fallen before from as high as $4.69 in April 08, respectively $6 in 2007. Additionally, NYSE CBB stocks traded at under $3, thus under 50% of its highest value in 2007.

The investigation seeks to determine whether certain senior officers and executives at Cincinnati Bell 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 Cincinnati Bell’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:CBB stockholders to more efficiently influence or control future compensation decisions at Cincinnati Bell Inc.

Those who are current long term investors in Cincinnati Bell Inc. (Public, NYSE:CBB) 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:cbb, NYSE:CBB, cincinnati bell, executive compensation, salary, employee, investigation, breach
Shortcut:prlog.org/11539799
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