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Whirlpool Corporation under investor investigation over possible breaches of fiduciary duty
Investigation on behalf of investors of Whirlpool Corporation over possible breaches of fiduciary duty – WHR stockholders should contact the Shareholders Foundation, Inc at firstname.lastname@example.org
By: Shareholders Foundation, Inc.
If you are a current long term investor in Whirlpool Corporation securities, and/or have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Whirlpool Corporation breached their fiduciary duty owed to WHR investors after its Embraco North America Inc., subsidiary admitted to price fixing. The investigation seeks to determine whether certain officers and directors at Whirlpool were negligent in overseeing the Embraco subsidiary to detect antitrust violations. On September 30, 2010, the U.S. Justice Department announced that Embraco North America Inc agreed to plead guilty to conspiring to fix prices on refrigerant compressors and would pay $91.8 million in fines. In a written statement, the government said that Embraco North America Inc and Panasonic conspired to fix the prices of refrigerant compressors from 2004 to 2007. Whirlpool Corp. said the fine would result in a $1.20-a-share charge for the third quarter. Last year, Embraco agreed to pay $56.5 million to end a similar antitrust investigation in Brazil. Whirlpool Corporation reported in 2006 $18.08billion total revenue, in 2007 $19.4billion, in 2008 $18.9billion, and in 2009 $17.09billion. Its Net Income went from $486million in 2006 to $328million in 2009.
Shares of Whirlpool Corporation traded recently at $80.20 per share, down from its current 52weekHigh of $118.44 per share. WHR shares traded as low as $20.19 per share in March 2009.
Those who are current long term investors in Whirlpool Corporation securities, and/or have any information relating the investigation, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
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The Shareholders Foundation, Inc. is 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 believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. 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.