PRLog - Aug. 17, 2011 - SAN DIEGO -- Certain senior officers and executives at of M.D.C. Holdings, Inc. are under investigation on behalf of current long term investors in of M.D.C. Holdings, Inc. (NYSE: MDC) shares concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded at M.D.C. Holdings.
If you purchased shares of M.D.C. Holdings, Inc. (NYSE:MDC) and currently hold those NYSE:MDC 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 M.D.C. Holdings’ senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.
M.D.C. Holdings’ annual Revenue fell from $2.885billion in 2007 to $958.65million in 2010. During 2007 and 2008 M.D.C. Holdings, Inc. had to report substantial Net Losses at $637million for 07 and $380million in 08. For the first quarter in 2011 M.D.C. Holdings, Inc. reported a Net Loss of $19.88million.
Shares of M.D.C. Holdings, Inc. (Public, NYSE:MDC) declined from as high as $87.60 per share in 2005 and traded recently at under $25 per share.
Nevertheless, M.D.C. Holdings’ CEO’s pay rose from roughly $6.5million in 2008 to $9.2million in 2010 and its COO pay increased from about $7.3million in 2008 to $9million in 2010.
But M.D.C. Holdings’ shareholders recently expressed their disdain for executive pay packages by voting “no” on M.D.C. Holdings’ say on pay provision. M.D.C. Holdings received only 33.4% support for its pay practices at its April 27 annual meeting, according to a company filing.
Those who purchased shares of M.D.C. Holdings, Inc. (NYSE:MDC) and currently hold those NYSE:MDC stocks, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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