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Globecomm Systems, Inc. Investor Alert: Investigation over Executive Pay
An investigation for Globecomm Systems, Inc. investors over potential breaches of fiduciary duties was announced and current long-term NASDAQ-GCOM stockholders should contact the Shareholders Foundation.
Investors who are current long-term stockholders of shares of Globecomm Systems, Inc. , have certain options and 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 directors and officers of Globecomm Systems, Inc. harmed the company by agreeing to pay certain of Globecomm Systems’ senior officers and executives excessive compensation.
Globecomm Systems, Inc. reported that its Total Revenue rose from $227.82 million for the 12 months period that ended on June 30, 2010 to $381.90 million for the 12 months period that ended on June 30, 2012 and its Net Income over the respective time periods increased from $7.90 million to $28.56 million.
Shares of Globecomm Systems, Inc. grew from as low as $4.54 per share in March 2009 to $16.03 per share in July 2011. NASDAQ-GCOM shares dropped from as high as $15.83 per share in February 2012 to as low as $10,00 in July 2012.
The compensation of certain top officials at Globecomm Systems, Inc. increased between 2010 and 2012. For instance, the Chairman and CEO’s pay increased from over $968,000 in 2010 to over $1.44 million in 2012, the President and COO’s compensation rose from over $683,000 in 2010 to over $991,000 in 2012, and the Senior VP, CFO and Treasurer’s pay rose from over $548,000 in 2010 to over $740,000 in 2012.
NASDAQ-GCOM shares closed on October 10, 2012, at $11.17 per share.
Those who are current long-term stockholders of Globecomm Systems, Inc. shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.