NVR, Inc. Former Employee Investigation over possible Breaches of Fiduciary Duties

July 19, 2011 - PRLog -- An investigation on behalf of former and current employees of NVR Inc., who are or were participants or beneficiaries of the NVR employee company stock option plan and/or currently hold NYSE-NVR stock over possible breaches of fiduciary duties in connection with NVR’s executive compensation practices was announced.

If you are a former and current employees of NVR Inc., who are or were participants or beneficiaries of the NVR employee pension plan and currently hold NVR, Inc.  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 NVR, Inc. based upon its current operating condition and that was improper compared to what senior officers and executives at comparable companies were making.

The NVR CEO’s pay rose substantially from roughly $4.69million in 2008 to $30.879million in 2010. One of highest compensation in the home-building sector and among the highest paid CEOs of a publicly traded company overall. The NVR Principal Financial Officer’s pay increased from about $2.5million in 2008, respectively $719,000 in 2009 to $13.287million in 2010 and the Principal Accounting Officer’s compensation rose from $1.159million in 08, respectively $366,000 in 09 to $6.063million in 2010.

However, NVR’s shareholders recently expressed their disdain for executive pay packages by voting “no” on NVR, Inc's say on pay provision. NVR, Inc. received only about 44% 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 NVR, Inc is improper based upon its current operating condition.

NVR’s 12months Revenue fell from $5.156billion in 07 to $3.057billion in 2010. Its Net Income fell from $333.95million in 2007 to $206million in 2010. For the first quarter in 2011 NVR, Inc. reported lower quarterly Revenue of $517.12million compared to $593.50million a year earlier and lower quarterly Net Income of $15.17million compared to $32.09million one year earlier.

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

Those who are former and current employees of NVR Inc., who are or were participants or beneficiaries of the NVR Inc employee pension plan and currently hold NVR, Inc.  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