May 28, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Asta Funding, Inc. (NASDAQ:ASFI) was announced concerning whether certain Asta Funding officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Asta Funding officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.

Asta Funding, Inc. reported that its Total Revenue increased from $43.17 million for the 12 months period that ended on Sept. 30, 2011 to $44.50 million for the 12 months period that ended on Sept. 30, 2012. Its respective Net Income declined over the same time periods from $10.52 million to $10.04 million.

Shares of Asta Funding, Inc. grew from $6.70 in June 2011 to as high as $10.22 per share in October 2012, but declined to $8.55 in November 2012.

The total compensation of certain top officials at Asta Funding, Inc. increased between 2011 and 2012. For instance the Chairman, President and CEOs pay rose from over $1.69 million in 2011 to over $1.81 million in 2012 and the CEOs total compensation increased from over $496,000 in 2011 to over $545,000 in 2012.

On May 28, 2013, NASDAQ:ASFI shares closed at $8.97 per share.