PRLog - Aug. 17, 2011 - SAN DIEGO -- Certain senior officers and executives at Intersil Corp. are under investigation on behalf of current long term investors in Intersil Corporation (NASDAQ: ISIL) shares concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded at Intersil.
If you purchased shares of Intersil Corporation (NASDAQ: ISIL) and currently hold those NASDAQ: ISIL stocks, 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 certain of Intersil’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.
While Intersil Corp’s 12months Total Revenue increased from $756.97million in 2007 to $822.40million in 2010, it reported a substantial Net Loss in 2008 of $1.026billion compared to a Net income of $140.48million in 2007, $38.56million for 2009 and $26.39million in 2010. For the first 13weeks ending on April 1, 2011 Intersil Corporation reported a Net Income of $14.13million compared to $27.67million a year earlier.
Even though shares of Intersil Corporation (NASDAQ:ISIL)
Nevertheless, Intersil’s CEO total compensation rose from $3.16million in 2008 and 2008 to $4.44million in 2010 and the Senior Vice President and CFO’s pay rose from $427,000 in 2008 to $1.34million in 2010.
But Intersil’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Intersil's say on pay provision at its May 4 annual meeting, according to a company filing.
Those who purchased shares of Intersil Corporation (NASDAQ: ISIL) and currently hold those NASDAQ: ISIL stocks, you have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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