An investigation for Mindspeed Technologies, Inc. (NASDAQ:MSPD) investors over potential breaches of fiduciary duties by certain directors of Mindspeed Technologies, Inc. was announced and current long-term NASDAQ:MSPD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/15/2012 -- An investigation on behalf of investors in shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) was announced concerning whether certain officers and directors of Mindspeed Technologies, Inc. their fiduciary duties by paying certain top officials at Mindspeed Technologies excessive compensation.
Investors who are current long-term stockholders of shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD), 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 Mindspeed Technologies, Inc. harmed the company by agreeing to pay certain of Mindspeed Technologies’ senior officers and executives excessive compensation.
Mindspeed Technologies, Inc. (NASDAQ:MSPD) reported that its Total Revenue fell from $178.18 million for the 12 months period that ended on October 1, 2010 to $162.09 million for the 12 months period that ended on Sept. 30, 2011 and its Net Income of $21.07 million for the 12 months period that ended on Oct. 1, 2010 declined to a Net Loss of $0.76 million for the 12 months period that ended on Sept. 30, 2011.
Shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) declined from as high as $10.03 per share in April 2010 to as low as $2.46 per share in June 2012.
The total compensation of certain top officials at Mindspeed Technologies, Inc. increased from 2010 to 2011. For instance, the CEO’s pay rose from over $4.13 million in 2010 to over $5.05 million in 2011, the Senior VP, Worldwide Sales’ compensation increased from over $687,000 in 2010 to over $1.38 million in 2011, and the Senior VP and CFO’s pay increased from over $860,000 in 2010 to over $961,000 in 2011.
On October 12, 2012, NASDAQ:MSPD shares closed at $3.37 per share, less than half its current 52 week High of $7.28 per share.
Those who are current long-term stockholders of Mindspeed Technologies, Inc. (NASDAQ:MSPD) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com