The Shareholders Foundation announces that an investigation on behalf of investors in Sothebys (NYSE:BID) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Sothebys.
Investors who purchased shares of Sothebys (NYSE:BID) shares 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 concerns whether certain Sothebys officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Sothebys reported that its annual Total Revenue declined from $831.84 million in 2011 to $768.49 million in 2012. Shares of Sothebys (NYSE:BID) declined from over $40 per share in February 2012 to as low as under $30 per share in November 2012.
Sothebys reported that its annual Total Revenue rose from $768.49 million in 2012 to $853.68 million in 2013 and that its respective Net income increased from $108.29 million to $130.01 million.Shares of Sothebys (NYSE:BID) grew from $28.86 per share in November 2012 to as high as $53.51 per share in January 2014.
On April 17, 2014, NYSE:BID shares closed at $40.01 per share.
Those who purchased shares of Sothebys have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego