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Photronics, Inc. Investor Investigation concerns potential excessive Executive Pay
An investigation for shareholders of Photronics, Inc. possible securities laws violations was announced and NASDAQ-PLAB stockholders should contact the Shareholders Foundation at email@example.com
If you who purchased Photronics, Inc. and currently hold those NASDAQ-PLAB shares, 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 the directors and officers of Photronics, Inc. harmed the company by agreeing to pay certain of Photronics, Inc. ’s senior officers and executives excessive compensation in past years.
Photronics, Inc. reported that its Total Revenue rose from $361.35million for a 52weeks period ending on Nov. 1, 2009 to $512.02million for a 52weeks period ending on October 30, 2011 and that its Net Loss of $210.76million for the 52weeks period ending on Nov. 1, 2009 turned into a Net Income of $16.23million for the 52weeks period ending on October 30, 2011. However, Photronics’ Net Income fell from $23.92million for the 52weeks period ending on October 31, 2010 to the $16.23million for the 52weeks period ending on October 30, 2011.
Despite that shares of Photronics, Inc. rose from as low as $0.37 per share on November 21, 2008 to as high as $9.79 on March 4, 2011, NASDAQ-PLAB shares fell in the second half of 2011 to as low as $4.95 in November 2011 and closed recently slightly above $7 per share. Furthermore, NASDAQ-PLAB shares traded in the first part of 2008 as high as $12.84 per share and during 2007 as high as almost $17 per share.
Despite those financial results the COO’s Total compensation increased from about $552,000 in 2009 to $919,000 in 2011, the total compensation oif the Chairman, CEO, and President of Photronics rose from roughly $665,000 in 2009 to over $1.65million in 2011, and the CFO’s total pay increased from roughly $334,000 in 2009 to over $653,000 in 2011.
Those who purchased Photronics, Inc. and currently hold those NASDAQ-PLAB shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. 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.