A lawsuit was filed by an investor in shares of Cisco Systems, Inc. (NASDAQ:CSCO) over alleged breaches of fiduciary duties and current long-term NASDAQ:CSCO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 10/17/2012 -- An investor in shares of Cisco Systems, Inc. (NASDAQ:CSCO) filed a lawsuit in effort to halt the shareholder vote on Cisco Systems’ proposed changes to its executive compensation structure until Cisco Systems, Inc. provides full disclosure.
Investors who are current long term stockholders in shares of Cisco Systems, Inc. (NASDAQ:CSCO), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that defendants breached their fiduciary duties owed to current NASDAQ:CSCO stockholders. More specifically the plaintiff alleges that parts of the proxy statement filed by Cisco Systems, Inc. (NASDAQ:CSCO) are materially misleading and incomplete.
On September 26, 2012, Cisco Systems, Inc. (NASDAQ:CSCO) filed its proxy statement for its shareholder meeting on November 15, 2012. Among other things, shareholders are asked for an advisory vote regarding executive compensation.
The plaintiff says NASDAQ:CSCO investors are unable to make an informed vote on the two proposals to the company executive compensation structure because the current proxy is inadequate and seeks to halt the vote until the company provides full disclosure concerning the incentive and compensation plans.
Cisco Systems, Inc. (NASDAQ:CSCO) reported that its Total Revenue rose from over $36.11 billion for the 52 weeks period that ended on July 25, 2009 to over $46.06 billion for the 52 weeks period that ended on July 28, 2012, and its Net Income over the same time periods increased from over $6.13 billion to over $8.04 billion.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) declined from as high as $27.47 per share in April 2010 to as low as $14.93 per share in June 2011.
On October 16, 2011, NASDAQ:CSCO shares closed at $18.85 per share.
Those who are current long term stockholders in shares of Cisco Systems, Inc. (NASDAQ:CSCO), have certain options and should contact the Shareholders Foundation.
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