San Diego, CA -- (ReleaseWire) -- 06/09/2014 -- An investor in shares of Cheniere Energy, Inc. (NYSEMKT:LNG) filed a lawsuit against certain directors of Cheniere Energy, Inc. over alleged wrongdoing in connection with stock compensation that was allegedly improperly awarded to certain executives.
Investors who purchased shares of Cheniere Energy, Inc. (NYSEMKT:LNG) in 2012 or earlier and currentl hold any of those NYSE:MKT:LNG shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breaches their fiduciary duties owed to investors in shares of Cheniere Energy, Inc. (NYSEMKT:LNG). The plaintiff seeks to recover 25 million shares of Cheniere Energy, Inc. (NYSEMKT:LNG) stock that were allegedly improperly awarded to certain Cheniere Energy’s employees, consultants and directors under the Cheniere Energy, Inc. 2011 Incentive Plan despite the fact that the stockholder vote to permit such awards did not receive the required majority vote. The plaintiff says that awarding of these restricted stock awards was an unauthorized act by the Board that exceeded the Company’s own authority under its own bylaws and is thus ultra vires. Furthermore, the plaintiff also seeks to correct certain disclosures to Cheniere’s December 31, 2012 proxy statement filed in connection with the Special Meeting of Stockholders held on February 1, 2013 and the February 4, 2013. In addition, the plaintiff seeks to invalidate a newly adopted bylaw that changes the way Cheniere Energy, Inc. counts abstentions in stockholder votes.
On June 2, 2014 Cheniere Energy, Inc announced that it has decided to postpone the 2014 Annual Meeting of Stockholders of the Company.
Cheniere Energy, Inc. reported that its annual Total Revenue rose from $266.22 million in 2012 to $267.21 million in 2013. Shares of Cheniere Energy, Inc. (NYSEMKT:LNG) increased from $9.00 per share in early January 2012 to as high as $69.40 per share on June 2, 2014.
On June 6, 2014, NYSEMKT:LNG shares closed at $66.03 per share.
Those who purchased shares of Cheniere Energy, Inc. (NYSEMKT:LNG), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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