Helix Energy Solutions Group Inc. Former Employee Investigation over Executive Pay Practice

June 29, 2011 - PRLog -- An investigation on behalf of former and current employees of Helix Energy Solutions Group Inc, who are or were participants or beneficiaries of the Helix Energy Solutions Group employee company stock option plan and/or currently hold Helix Energy Solutions Group  stock over possible breaches of fiduciary duties in connection with Helix Energy Solutions Group’s executive compensation practices was announced.

If you are a former and current employees of Helix Energy Solutions Group, who are or were participants or beneficiaries of the Helix Energy Solutions Group employee pension plan and currently hold Helix Energy Solutions  stock, and/or have any information relating the investigation, 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 possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Helix Energy Solutions Group based upon its current operating condition and that was improper compared to what senior officers and executives at comparable companies were making.
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.
However, 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.
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.

Former (or current) employees of Helix Energy Solutions Group, who currently hold stocks of Helix Energy Solutions Group Inc. , may be eligible to file a complaint against certain directors and officers, so the investigation.

Those who are former and current employees of Helix Energy Solutions Group, who are or were participants or beneficiaries of the Helix Energy Solutions employee pension plan and currently hold NYSE- HLX stock, and/or those who have any information relating the investigation, 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 monitoring and settlement claim filing 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 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.