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If you are a current long-term stockholder in shares of Ashland Inc. (NYSE:ASH), 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
Dec. 18, 2012 (Shareholders Foundation) -- An investigation on behalf of current long term stockholders in shares of Ashland Inc. (NYSE:ASH) was announced concerning potential breaches of fiduciary duties by certain directors of Ashland Inc. in connection with the Companys 2011 Incentive Plan.
The investigation by a law firm concerns whether certain directors potentially breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment to the Companys 2011 Incentive Plan.
In the Proxy Statement filed by Ashland Inc with the Securities and Exchange Commission (SEC) the Board of Directors recommends that Ashlands shareholders vote to approve an amendment to approve an amendment to the 2011 Ashland Inc. Incentive Plan to increase the aggregate number of shares of common stock authorized for issuance under the plan by 2,000,000 shares.
According to the investigation the issuance of the additional shares could have a substantial dilutive effect on the shares of Ashland common stock.
Ashland Inc.(NYSE:ASH) reported that its Total Revenue rose from $5.22 billion for the 12 months period that ended on Sept. 30, 2009 to over $8.2 billion for the 12 months period that ended on Sept. 30, 2012 and that its Net Loss of $240.00 million for the 12 months period that ended on Sept. 30, 2009 turned into a Net Income of $38.00 million for the 12 months period that ended on Sept. 30, 2012.
Shares of Ashland Inc.(NYSE:ASH) grew from as low as $5.91 per share in February 2009 to as high as $78.40 on December 12, 2012.
However, Ashlands Net Income fell from $88.00 million for the 12 months period that ended on Sept. 30, 2010, to $56.00 million for the 12 months period that ended on Sept. 30, 2011, and to Net Income of $38.00 million for the 12 months period that ended on Sept. 30, 2012.
The Total compensation of certain top officials at Ashland Inc. increased significantly between 2011 and 2012. For instance the Chairman of the Board and CEOs pay rose from over $6.95 million in 2011 to over $8.56 million in 2012 and the Senior VP and CFOs compensation increased from over $1.86 million in 2011 to over $3.1 million in 2012.
