Mindspeed Technologies, Inc. (NASDAQ:MSPD) Investor Alert: Lawsuit over Stock Awards filed

PRLog (Press Release) - Feb. 13, 2013 - An investor in shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) filed a lawsuit against Mindspeed Technologies’ CEO and certain directors over certain stock award that were granted to the CEO.

Investors who are current long-term stockholders of shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the board of directors breached their fiduciary duties by agreeing to award the CEO equity awards that allegedly exceeded the limited allowed by the shareholder-approved Mindspeed Technologies’s long-term incentive plan.

Indeed, the CEO’s pay rose from over $4.13 million in 2010 to over $5.05 million in 2011.

On October 10, 2012, NASDAQ:MSPD shares closed at $3.22 per share, less than half its current 52 week High of $7.28 per share.

Those who are current long-term stockholders of Mindspeed Technologies, Inc. (NASDAQ:MSPD) shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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