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Commercial Metals Company Investor Alert: Investigation
An investigation for investors in shares of Commercial Metals Company over possible breaches of fiduciary duties was announced and current NYSE-CMC stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
If you are a current long-term stockholder in shares of Commercial Metals Company , 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 directors potentially breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for the implementation of Cash and Long-Term Equity Incentive Plans.
In the Proxy Statement filed by Commercial Metals Company with the Securities and Exchange Commission (“SEC”) the Board of Directors recommends that Commercial Metal's shareholders vote to approve the Company's 2013 Cash Incentive Plan and 2013 Long-Term Equity Incentive Plan, the latter of which would reserve 15,750,000 shares of Company common stock for awards.
According to the investigation the issuance of the additional shares could have a substantial dilutive effect on the shares of Commercial Metals Company common stock.
Commercial Metals Company reported that its Total Revenue declined from over $7.86 billion for the 12 months period that ended on Aug. 31, 2011 to over $7.82 billion for the 12 months Period that ended on August 31, 2012 and that its Net Loss over $129.62 million for the 12 months period that ended on Aug. 31, 2011 turned into a Net Income of $207.48 million for the 12 months period that ended on Aug. 31, 2012.
Commercial Metals Company traded in 2011 as high as $17.41 per share and as low as $11.62 per share in June 2012.
The compensation of certain top officials at Commercial Metals Company increased from 2011 to 2012. For instance, the President and CEO’s Total Pay rose from over $2.45 million in 2011 to over $3.78 million in 2012 and the Senior VP and CFO’s compensation increased from over $1.07 million in 2011 to over $1.81 million in 2012.
Shares of Commercial Metals Company closed on Dec. 14, 2012, at $14.41 per share.
Those who are current long-term stockholders in shares of Commercial Metals Company , have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.