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If you are a are current long-term stockholder of shares of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), 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
April 23, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) was announced concerning whether certain Atlas Air Worldwide Holdings officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain Atlas Air Worldwide Holdings officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment to the Companys 2007 Incentive Plan.
In the Proxy Statement filed by Atlas Air Worldwide Holdings, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Atlas Airs shareholders vote to approve an amendment to the Companys 2007 Incentive Plan to increase the shares available for awards by 1,300,000.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on NASDAQ:AAWW common stock.
Atlas Air Worldwide Holdings, Inc. reported that its annual Total Revenue increased from over $1.39 billion in 2011 to over $1.64 billion in 2012 and that respective Net Income increased from $96.08 million to $129.93 million in 2012. However, its Net Income in 2010 was $141.81 million, thus above its 2011 and 2012 Net Income.
Shares of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) grew from $33.42 per share in October 2011 to $56.600 per share in September 2012.
However, since then NASDAQ:AAWW shares declined to $37.10 on April 19, 2013.
Furthermore, NASDAQ:AAWW shares traded in early 2011 as high as $72.26 per share.
The compensation of certain top officials at Atlas Air Worldwide Holdings, Inc. increased between 2010 and 2012. For instance, the President and CEOs total compensation rose from over $5.9 million in 2010 to over $6.9 million in 2012, the COOs total pay increased from over $2.8 million in 2010 to over $3.5 million in 2012, and the CFOs total compensation grew from over $1.7 million in 2010 to over $2.2 million in 2012.
