The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Imation Corp. (NYSE:IMN) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Imation in connection with compensation paid to certain executives.
Investors who purchased shares of Imation Corp. (NYSE:IMN) and currently hold any of those NYSE:IMN shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Imation officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
The total compensation of certain top officials at Imation Corp. increased from 2012 to 2013. For instance the President and CEO’s total pay rose from over $2.18 million in 2012 to over $2.88 million in 2013, the Senior VP and CFO’s total compensation rose from over $880,000 in 2012 to over $1.15 million in 2013 and the Senior VP and Group President Consumer Store and Accessories total compensation increased from over $770,000 in 2012 to over $1.16 million in 2013.
Imation Corp. reported that its annual Total Revenue declined from over $1 billion in 2012 to $860.80 million in 2013. Shares of Imation Corp. (NYSE:IMN) declined from $6.40 per share in February 2014 to as low as $2.82 per share in September 2014.
On March 2, 2015, NYSE:IMN shares closed at $4.10 per share.
Those who purchased shares of Imation Corp. (NYSE:IMN), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego