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If you purchased shares of AK Steel Holding Corporation (NYSE:AKS), and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of investors in shares of AK Steel Holding Corporation (NYSE:AKS) over possible breached of fiduciary duties by certain officers and directors at AK Steel Holding Corporation was announced.
The investigation by a law firm concerns possible breaches of fiduciary duty and other violations of the law by certain officers and directors at AK Steel Holding Corporation.
AK Steel Holdings 12months Total Revenue decreased from roughly $7billion in 2007 and 3008 to roughly $4billion in 2009. AK Steel Holding Corporation was able to increase its 12months Total Revenue to almost $6billion in 2010. However, its Net Income decreased from $387.7million in 2007 to a Net Loss of $128.9million in 2010.
Shares of AK Steel Holding Corporation increased from under $17 in 2007 to over $70 per share in 2008. AKS shares fell to $6.09 per share during 2009 and have since then regained value and traded during 2010 over $20 per share.
The investigation focuses on whether the officers and directors of AK Steel issued materially inaccurate statements to the investing public in the company's proxy statement, filed with the US Securities and Exchange Commission on April 12th 2010. The proxy was distributed in advance of the annual meeting of AK Steel shareholders held on May 27, 2010.
