PRLog - Jun. 20, 2011 - SAN DIEGO -- An investigation on behalf of current long term investors in shares of Dex One Corporation (NYSE: DEXO) concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Dex One Corp. was announced.
If you are a current long term investor in Dex One Corporation (NYSE: DEXO) 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 firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether the directors and officers of Dex One Corporation harmed the company by breaching their fiduciary duties to shareholders. In particular the investigation on behalf of current long term investors in Dex One Corp. (NYSE: DEXO) focuses on possible shareholder claims that certain of Dex One’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.
Dex One’s CEO earned a total of $5.165million in 2010. Its CFO’s pay rose from roughly $920,000 in 09 to $3.661million in 2010, its EVP Sales & Marketing compensation increased from $847,000 in 2009 to $2.865million in 2010, and its SVP and General Counsel’s pay rose from about $635,000 in 2009 to $1.578million in 2010.
However, Dex One’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Dex One's say on pay provision. Dex One Corporation received only 48 % support for its pay practices at its May 3 annual meeting, according to a company filing.
The investigation concerns possible claims that the prior compensation awarded at Dex One Corporation is improper based upon its current operating condition.
Dex One’s 12months Revenue fell from $2.68billion in 2007 to $991million in 2010. Even though Dex One Corporation reported a Net Income of $5.996billion in 2010 it reported in 2009 a substantial Net Loss of $6.43billion, respectively in 2008 a Net Loss of $2.29billion.
Shares of Dex One Corporation (Public, NYSE:DEXO) fell from over $30 in April 2010 to under $2 recently.
The investigation seeks to determine whether certain senior officers and executives at Dex One Corp. were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’
Finally the investigation focuses also on possible shareholder claims that would allow Dex One (NYSE: DEXO) stockholders to more efficiently influence or control future compensation decisions at Dex One Corporation.
Those who are current long term investors in Dex One Corporation (Public, NYSE:DEXO) 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 email@example.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