PRLog - Aug. 17, 2011 - SAN DIEGO -- Certain senior officers and executives at Shuffle Master are under investigation on behalf of current long term investors in Shuffle Master, Inc. (NASDAQ: SHFL) shares concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded at Shuffle Master.
If you purchased shares of Shuffle Master, Inc. (NASDAQ: SHFL) and currently hold those NASDAQ: SHFL 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 Shuffle Master’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.
Even though shares of Shuffle Master, Inc. (Public, NASDAQ: SHFL) rose from as low as $2.77 per share in March 09 to over $11 in April and May 2011 its shares decreased from as high as $39.59 per share during 06 and as high as $27.21 per share in 07.
Nevertheless, Shuffle Master’s CEO, Executive Vice President and Chief Operating Officer pay rose from roughly $603,000 in 2008 to $694,000in 2010, the Executive Vice President, CFO and Secretary’s pay increased from about $145,000 in 08 to $519,000 in 2010, and the former CEO Timothy Parrott eared $1,01million in 2010 compared to roughly $863,000 in 2009.
But Shuffle Master’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Shuffle Master's say on pay provision. Shuffle Master Inc received only 44.1% support for its pay practices at its March 17 annual meeting, according to a company filing.
Those who purchased shares of Shuffle Master, Inc. (NASDAQ: SHFL) and currently hold those NASDAQ: SHFL stocks, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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