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Electro Rent Corporation Investor Alert: Investigation over Executive Pay
An investigation for Electro Rent Corporation investors over potential breaches of fiduciary duties was announced and current long-term NASDAQ-ELRC stockholders should contact the Shareholders Foundation.
Investors who are current long-term stockholders of shares of Electro Rent Corporation , have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain directors and officers of Electro Rent Corporation harmed the company by agreeing to pay certain of Electro Rent’s senior officers and executives excessive compensation.
Electro Rent Corporation reported that its Total Revenue rose from $228.73 million for the 12 months period that ended on May 31, 2011 to $248.55 million for the 12 months period that ended on May 31, 2012 and its Net Income for the respective time periods increased from $23.76 million to $25.77 million.
Shares of Electro Rent Corporation rose from $8.43 per share in May 2009 to as high as $18.71 per share in February 2012.
The total compensation of certain top officials at Electro Rent Corporation increased from 2010 to 2012. For instance the Chairman of the Board and CEO’s pay rose from over $656,000 in 2010 to over $871,000 in 2012, and the President and COO’s compensation rose from over $883,000 in 2010 to over $911,000 in 2012.
Those who are current long-term stockholders of Electro Rent Corporation shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.