An investigation for Echostar Corporation (NASDAQ:SATS) investors over potential breaches of fiduciary duties by certain directors of Echostar Corporation was announced and current long-term NASDAQ:SATS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/26/2012 -- An investigation on behalf of current investors in shares of Echostar Corporation (NASDAQ:SATS) concerning whether certain officers and directors of Echostar Corporation breached their fiduciary duties by agreeing to pay certain top officials at Echostar Corporation excessive compensation.
Investors who are current long-term stockholders of shares of Echostar Corporation (NASDAQ:SATS), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain directors and officers of Echostar Corporation harmed the company by agreeing to pay certain of Echostar’s senior officers and executives excessive compensation.
Echostar Corporation (NASDAQ:SATS) reported that its annual Revenue rose from over $1.9 billion in 2009 to over $2.76 billion in 2011.
However, its Net Income fell from $364.70 million in 2009 to $3.64 million in 2011.
Shares of Echostar Corporation (NASDAQ:SATS) rose from as low as $13.97 in January 2009 to as high as $38.36 per share in July 2011.
However NASDAQ:SATS shares fell in the second half of 2011 to as low as $20.49 per share.
Nevertheless the total compensation of certain top officials at Echostar Corporation increased between 2010 and 2011. For instance the Chairman’s pay rose from over $124,000 in 2010 to over $21.82 million in 2011, the executive VP and CFO’s compensation increased from over $121,000 in 2010 to over $1.84 million in 2011, and the CEO and President’s pay rose from over $755,000 in 2010 to over $808,000 in 2012.
Shares of Echostar Corporation (NASDAQ:SATS) closed on September 24, 2012, at $28.40 per share, down from its current 52 week High of $32.18 per share.
Those who are current long-term stockholders of Echostar Corporation (NASDAQ:SATS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com